Spring Forward: The Spring Market Starts Now!
Spring Forward: Why the Spring Market Starts Early
Back in the day, things were a lot simpler when it came to keeping track of your children. Parents would simply open the door, tell their children to go out and play, and then expect to see them only when dinner came around. Due to the fact that parents relied on their children playing with kids in the neighborhood to keep them preoccupied, it became very important to have the family settled prior to the summer months. This gave the children enough time to meet all the kids in the neighborhood and form friend groups.
In today’s world, things are pretty different; parents keep track of their children instead of sending them out to do as they please, therefore making it harder for them to meet the other kids in the neighborhood. Believe it or not, this fact has actually pushed up the Spring market causing it to start even earlier. Homes now close earlier to make sure that the children are ready for the new school year, and so they get into school before the Spring semester ends. This gives children the chance to meet new friends, while still in school, and be prepared for the next school year.
Aside from family matters, there are a few other reasons that the Spring market starts early, and why it’s such an ideal time to put a house on the market:
- Interest rates are at a historic low during the Spring market, and have been for over a year. Market observers predict that interest rates will most likely increase again mid-year and will probably end the year ½ to 1 percent higher.
- For many home buyers, the cure for cabin fever (from the Winter doldrums) is home shopping!
- The weather is much better during the Spring, with recent snow storms being the exception! Nice weather allows potential buyers to truly see how a home looks without snow or ice clouding their judgment. The nice weather also leads to lush landscapes—lawns are green, flowers and trees are in full bloom—only adding to the appeal of the home.
So remember, the Spring market starts earlier. We see more closings in April and May than any other time of year. That means the best time to put a house on the market is now!