Some takeaways to remember:
- This weekend is officially Daylight Savings Time 2020 in almost all parts of the U.S.; we’ll be setting our clocks forward an hour at 2:00 AM on Sunday, March 8.
- Whether you plan to sell or buy a home this spring, using these tips could be enough to help you “spring ahead” and beat out the competition.
- In the spring, you can count on two things: more sellers and more buyers. Preparing now can help you stand out and get noticed.
Why the housing market is also expected to ‘spring forward’ in 2020
Throughout most of the country, the housing market is anticipated to “spring forward,” just like our clocks. Lack of inventory has been holding the market back, creating an underlying tension much like a spring.
Buyer demand is normally seasonal. You’ll typically see fewer homebuyers in the winter, especially in colder areas. But with homes flying off the market in the winter months, that’s not what’s happening this year.
#spring #flowers #bloom #newhome #nextchapter: Download our free app to get prequalified from anywhere and start searching for dream houses.
Demand for homes is remaining high as mortgage interest rates sit at historically low levels. Even with a slight rate increase from these rock-bottom lows, buyers are still securing an affordable monthly mortgage payment. This is a reason many homebuyers are opting to buy sooner — so they can lock in a lower rate.
For sellers, April, May, and June have been listed among the top 10 dates to sell a home, according to the National Association of Realtors (NAR). Acting now and listing quickly, before the anticipated flood of springtime sellers, can give you more exposure to today’s brand-new buyers.
An extra hour of daylight = more time to hunt for new houses
Whether you’re buying your first home, or selling and trading up, you can take advantage of the spring time change and start using the longer days for house-hunting. And, like we mentioned, getting prequalified early is another super-smart way to edge out the competition. Prequalifying for a mortgage now will tell you exactly how much house you can afford, saving you time spent shopping in the wrong price range.
For educational purposes only. Please contact your qualified professional for specific guidance.
Sources are deemed reliable but not guaranteed.