It's Spring…No, It's Winter..wait…wait…It's Spring – It's a crazy Real Estate Market Too!
This has been the craziest winter I can remember (and I’ve been in the Grand Rapids area for many a winter). One day the snow will be blowing and howling and the driving will be terrible, then the next day, the sun comes out – the snow melts and it’s so mild I don’t need to wear a coat. I’m not complaining – it has really been the mildest winter I can remember with snow very sparsely scattered. I do feel bad for the businesses that depend on a snowy winter (ski resorts, snowmobile resorts, restaurants and tourism surrounding the snow industry) and hope they can make it up yet this winter.
One unintended consequence of this “spring-like” weather is it has really gotten the “home buying juices” flowing in the marketplace. As early as the first week of January, when typically the real estate market is dormant, our phones were ringing off the wall (ok – we don’t hang phones on the wall anymore – but I don’t have a saying that will work yet). My listing showings are up from December and we are receiving offers on them!
Most folks don’t realize our real estate market is dependent on the weather. This year our “Spring Market” has started way early. Spring itself doesn’t really get here until March 20 – by then we will be well into the middle of our “Spring Market.” The major cause of a “spring market” is the change in the weather from very wintry to sun, melting snow and a 15 to 20 degree rise in temperature.
The original premise really was that most folks have cabin fever after being home bound during the snow storms of winter – then when it begins to thaw folks are so sick of staring at their four walls they want to move. Hmmm – not sure that is really the motivator – but do know there seems to be a psychologically positive attitude when we go from predominately dark days and little daylight to warmer days, sunshine and longer daylight. That positive attitude often translates into thinking about moving – which is good!
One other premise folks have about selling in the spring is the school theory. Years ago – if someone was being transferred by their company and they had a family – they often wanted to transfer during the Spring or Summer – with the idea they wanted to move in the summer so their children could start school in the fall. This idea is not as relevant today since the new theory is transferring and moving during the school year is really better for the children – especially since most schools have really good immersion programs for new students – making them feel special and often pairing them with peer mentors.
So – It’s a Real Estate Spring Market early this year. Don’t be left behind. Interest rates are still at record lows. We could really use some good homes to sell – so if you are thinking of moving and have a bit of cabin fever give me a call!