Spring is usually the busiest season in the housing market. Many buyers wait until then to make their move, believing it\u2019s the best time to find a home. However, that isn\u2019t always the case when you factor in the competition you could face with other buyers at that time of year. If you\u2019re ready to buy a home, here\u2019s why it makes sense to move before the spring market picks up.<\/p>\n

Spring Should Bring a Wave of Buyers to the Market<\/strong><\/h3>\n

In most years, the housing market goes through predictable seasonal trends in activity. Winter is typically a quiet point in the year, while spring sees a surge of buyers begin their search. And experts project that this year will be no exception.<\/p>\n

Right now, buyer demand is low due to a combination of normal seasonal trends and a reaction to last year\u2019s rise in mortgage rates. But rates have started to come down since last November, which has more and more potential buyers planning to jump into the market. That means right now is a sweet spot if you\u2019re in a good position to buy, before more buyers reappear. Affordability is beginning to improve, but demand is still low \u2014 for now. Lawrence Yun, Chief Economist at the\u00a0National Association of Realtors<\/em>\u00a0(NAR),\u00a0shares<\/a>:<\/p>\n

\u201c. . . expect sales to pick up again soon since mortgage rates have markedly declined after peaking late last year.\u201d<\/em><\/p><\/blockquote>\n

If you\u2019re ready to buy a home, right now is the best time to do so before your competition grows and more buyers enter the market.<\/p>\n

Today\u2019s Sellers Are Motivated<\/strong><\/h3>\n

Low demand from buyers often means sellers are more motivated to work with you, and that can set you up to buy a home on your terms. In fact, sellers have been more willing to\u00a0negotiate\u00a0this winter because there are fewer buyers in the market. According to a recent article from\u00a0Forbes<\/em><\/a>:<\/p>\n

\u201c. . .\u00a0sellers gave concessions to buyers in 41.9% of home sales<\/strong>\u00a0in the fourth quarter of last year.\u201d<\/em><\/p><\/blockquote>\n

But keep in mind, the advantages buyers have this winter won\u2019t last forever. The competition you face could be greater if you wait until spring to make a move, and\u00a0increased buyer demand means sellers will have less motivation to negotiate with you<\/strong>. Be sure to work with a trusted real estate professional to learn what you can expect in your local market right now.<\/p>\n

Bottom Line<\/strong><\/h3>\n

For those looking to purchase a home, now is the perfect time to make the move, as buyer demand is still low and sellers are more willing to negotiate. Rates have come down since November, and the competition will only increase once the spring market picks up. It’s in the buyer’s best interest to work with a trusted real estate professional to get the best deal and to learn what to expect in their local market. Now is the time to take advantage of the current conditions and make a successful move before the competition heats up in the spring. Give us a call today to see how we can help you get in a position to buy your next home!<\/p>\n

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Spring is usually the busiest season in the housing market. Many buyers wait until then to make their move, believing<\/p>\n","protected":false},"author":25,"featured_media":10692,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[90],"tags":[],"class_list":["post-10690","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-buying-a-home"],"yoast_head":"\n