What is a “Spring Market?” …Do you need to hear the birdies singing?
Here is the question I receive from a lot of sellers before they put their home on the market – “Should I wait until the SPRING MARKET to put my home up for sale…and if so, “when is the SPRING MARKET”?
In the “good ole days” a Spring Market was just what you would expect. People put their homes up for sale in April, May and June – expecting them to sell during that time so everyone could move during the summertime – mainly so the kids would be ready to go to their new schools by September.
Those “good ole days” are gone. As Realtors – we see houses selling every month of the year – depending more on the job market, the economy and the interest rates than if Johnny or Julie is going to be going to a new school in the fall. Here are a few reasons why that is so….
#1 Relocation has a new philosophy
Years ago the companies relocating their employees paid close attention to the” kids moving in the summer” rule. What many of these companies found out (along with a number of studies) is that kids did much better in a school move if they moved during the year when they were the new kid in school. Schools changed many of their policies and assigned a new student to a “mentor” or “buddy” to help them through the transition. If they moved during the summer they were just another student when they started in the fall.
#2 Price, Interest Rates & Market Conditions Rule – Not always the time of the year
In the past few years the market has been more sensitive to prices, where interest rates are and how people are feeling about the economy than if it’s a Spring Market or not. Interestingly, Oct. of 2009 had the same number of sales as April of 2010 (1050+) in the Grand Rapids market.
#3 – So when IS a Spring Market, if there is one?
I will say our phones do start ringing here in Grand Rapids, Michigan when the sun comes out after a long few weeks or months of clouds, cold and snow. The first really good thaw that happens probably heightens everyone’s awareness that winter might be over and for folks that have cabin fever – the thought of moving crosses their mind.
I’ve always said a Spring Market was in the mind of the public and was determined by the weather – not the calendar!. What do you think?