Summer & the Housing Market: What to Expect

Summer doesn’t just bring blue skies and sunshine. Seasonal changes also impact the real estate industry. Here’s how the housing market usually shifts in summertime:

Families are on the move. 
To keep from disrupting the school year, parents often plan moves for summer, which kicks off a busy season.

Homes sell faster. 
Facing a three-month window, buyers are motivated and competition is fierce. If you’re a buyer, work with a loan officer to get pre-qualified for a mortgage and be ready to move quickly.

Prices and inventory tend to increase. 
Whenever there’s an influx of buyers, prices go up. But more sellers listing their homes could mean a higher supply of homes to choose from.

Are you looking to buy or sell this summer? Do you just want to talk through your options? Reach out to us! You may have more options available to you than you realize! Call us at 1-888-254-9500 or fill in your contact information on our Home Finance Resource Center and we can contact you!

This article was repurposed with permission from Ellie Mae, Inc. - Encompass© in the June Summer Article 2023