With the general instability we have been seeing in the market and mortgage rates, many people feared we would not see our usual increase in inventory for the spring. However, we are happy to report that both purchase application data and active listing inventory increased last week! With the spring housing market in full swing, let’s talk about why this time of year is considered ideal for finding your new home.
Purchasing a home around the springtime can be a good decision for a multitude of reasons. First off, each year during spring we see an increase in home inventory as many homeowners choose to list their homes for sale during this time. This annual increase in inventory gives you a wider selection of homes to choose from, which improves your chances of finding the perfect home that meets your needs and budget! With more competition among buyers in the spring, sellers may also be more willing to negotiate on price and terms to get their home sold.
In addition to more homes being on the market, the sweet spring weather makes it easier to explore different neighborhoods and attend open houses. No one wants to trudge through snow and rain looking at houses. This time of year, you’ve got more daylight to view homes as well. Overall, looking around this time should give you a better sense of what the neighborhood is like. Purchasing your new home now gives you a timing advantage in terms of moving too. By purchasing in the spring, you have plenty of time to complete the home-buying process and prepare for your move by summer and fall.
As you can see, there are many advantages to buying a home during the spring, but it’s still important to consider your individual circumstances and needs before making a decision. Make sure you work with a knowledgeable real estate agent who can help you navigate the market and when you’ve found your dream home, we are here for you! Our team here at Placer Title will provide you with the best title and escrow services around—contact us today to get started!