It is common knowledge that a large number of homes sell during the spring-buying season. For that reason, many homeowners hold off on putting their home on the market until then. The question is whether or not that will be a good strategy this year.
The other listings that do come out in the spring will represent increased competition to any seller. Do a greater number of homes actually come to the market in the spring, as compared to the rest of the year? Actually in Kona the numbers are different, now is our busy time, but lets take a look at the national numbers because this affects Hawaii sales also.
The National Association of Realtors (NAR) recently revealed which months most people listed their home in for 2015. Here is a graphic showing the results:
NOTE: These are the mainland numbers, Kona has the snowbirds in town now, and they are BUYING, so please give us a call if you are considering selling.
The three months in the second quarter of the year (represented in red) are consistently the most popular months for mainland sellers to list their homes on the market. Last year, the number of homes available for sale in January was 1,860,000.
That number spiked to 2,280,000 by May!
What does this mean to you?
With the national job situation improving, and mortgage interest rates projected to rise later in the year, buyers are not waiting until the spring. They are out looking for a home right now. If you are looking to sell this year, waiting until the spring to list your home means you will have the greatest competition for a buyer.
It may make sense to beat the rush of housing inventory that will enter the market in the spring and list your home today.