2023 Spring & Summer Housing Market
Spring marks the busiest time of the year in the housing market. After the slow housing movements in winter, homeowners start buying and selling more homes in the springtime, and on into the summer months. As for 2023, we see the housing market heating up as people are jumping to sell their home for a quicker sell and higher price. Based on research for the 2023 spring and summer housing market, it’s forecasted that the best time to prep your home to sell is NOW!
Let’s take a look at some trends for the 2023 spring and summer housing market.
The best time to sell your home is in the early months of spring. Summer sells are frequent and gain high attraction as well.
An economic research analyst, Hannah Jones, reports “due to high prices and interest rates, buyers are being a bit more picky than they were the past several years.”
Tight inventory on houses have stopped prices from falling. Affordability is restricting demand compared to 2022.
June is historically known as the seasonal peak of home prices. We won’t see any price drops until after the third quarter of the year.
Homes sell significantly faster in summer months. For buyers and sellers, it is important to be prepared for the fast-paced season.
What is so special about the spring and summer real estate market?
Once spring approaches, the busy holiday season has come to an end and homeowners have more time on their hands. This means people are more prone to look into buying or selling their home.
Summer is prime time for families with children to move. Since kids are out of school for the summer months, it’s easier to prioritize moving needs.
Long summer days and warmer weather calls for more time to house hunt. Spring and summer lighting and blossoming flowers also make houses look better for showing.
Read more about the overall 2023 projections and trends for the housing market here.