Spring Home Buying Season Is Here
Historicall, most home buyers enter the real estate market in spring, around April. Well, not anymore... According to new research, January 2019 was only 1% behind February for the most monthly views per listing on major real estate websites. Thus, the busiest season in real estate, including Boise real estate, has just begun.
With the reality of fewer homes on the market in the winter, and that supply naturally increases as we head to the spring market, waiting for more competition to list in your neighborhood this year might put you behind the curve. Now may be the best time to jump into the market and be ahead of the competition.
George Ratiu, Senior Economist at realtor.com says, “As shoppers modify their strategies for navigating a housing market that has become more competitive due to rising prices and low inventory, the search for a home is beginning earlier and earlier.”
There is a lot of speculation in the market about why the search for a home is shifting to an earlier start. The one thing we do know is if you’re thinking about buying or selling a home this year, the earlier you get started, the better.
Sellers tend to be more reluctant to list during the colder time of year when the market typically makes a seasonal slowdown. However, according to a new report by ShowingTime shows how this year is different. Buyer activity is way up compared to the same time last year.
“The nation’s 12.6% growth in home showings compared to 2018 was the most significant jump in buyer traffic during the current four-month streak of year-over-year increases. The West Region saw the greatest growth in activity, with a 23.1% jump – the region’s greatest in the history of the Showing Index.”
The increase has spread across all four regions of the country, as the graph below illustrates:
Are you thinking about selling your Boise Idaho home? When should you sell? When there is less of that item for sale and the greatest number of buyers are in the market. That’s exactly what is happening in real estate right now. Contact us for your Free Boise home evaluation.
The new spring market for real estate is underway. If you’re considering buying or selling your Boise home, contact us so you have the advantage in this competitive market.