Reason #1: The School District Tango
It’s all about the school districts. Many buyers prefer to move in the spring and summer so that they can be settled and ready by the time their children need to go back to school, especially buyers who are house-hunting in a different school district or who are trying to meet an enrollment deadline for a sought-after school. Once school has started, fewer families may be looking to sell their homes since they’re looking to provide stability for their children during the school year.
Reason #2: Spring Surge = Late Summer Slowdown
The real estate market usually operates with what’s known as a "spring surge" - a hot-market period during the spring when buyers and sellers alike are working the market into a frenzy. The spring is a popular time of year for the real estate market because the weather is nicer, yards look prettier, and people are looking forward to the summer ahead. This spring surge is usually followed by a late-summer slowdown; as families return from vacation and prepare for the upcoming school year, fewer sellers are preparing their houses for the market and fewer buyers are out looking at what’s available.
Reason #3: Motivated Buyers
With the year-end approaching, many fall home seekers are motivated buyers. While there may be fewer homes on the market in the fall, buyers are more likely to bid at or above asking price in the fall so they can move before winter hits. In this way, the back-to-school season lights a fire under potential buyers to motivate them into acting fast! Happy September