04/12/2018
April Showers bring May Flowers, but in the St. Louis area they also bring the height of the Spring Real Estate Market. All over social media people are looking at houses, closing on houses, talking about inventory, and more.
But why is Spring such a great time to buy a home? Why is the Spring Market the primetime for real estate year after year? What are the advantages (and disadvantages) of the Spring Market?
Spring is a season of renewal: It might sound simplistic, but it’s true—there is something inherently motivating about Spring. After a long winter, the longer days, warmer weather, and even the cultural associations of Spring with renewal and new beginnings make consumers think about new purchases.
Pent-up demand (and supply) is higher in the Spring: Buyers have been sitting inside, staying warm, and looking at online real estate resources throughout the winter months. Sellers have been sitting inside, too, and they’ve either realized that they need more space (because the kids have driven them crazy stuck in the house all winter) or they need less space (because they’ve been paying utility bills for rooms they don’t use all winter). Either way, they are ready to move, and this convergence with the pent-up demand from Buyers creates an active real estate market.
People with Kids are pushed by the calendar: Buyers with children want to settle on their home right around the time that the kids get out of school. That way, they can finish out the school year in the current school, have the summer to get settled, then start fresh on the first day of school in the Fall. That translates to a need to start looking in the late winter, choose a home in early-to-mid-Spring, then close in late May or early June.
No snow means better inspections: A wintertime home inspection means the inspector may not be able to access the roof, may not be able to fully inspect the HVAC, or may not be able to thoroughly check outdoor systems like an in-ground sprinkler system, French drains, or a pool. A spring inspection allows the inspector to see and examine all of the home’s systems, leading to more reliable inspections and more meaningful results.
Robert Everett is an experienced, award winning Coldwell Banker agent who wants to help you with the American Dream of home ownership. Please click Follow for great realty tips and facts, along with current properties at https://www.coldwellbanker.com/CB-Gundaker-Corporate-12675c/Robert-Everett-609945a
