Tuesday, July 21, 2020

Summer is Hot for Real Estate Activity, Too

Normally, most of the country sees a slowdown in real estate activity in July and August.  Although the days are longer, and some people have more time, vacations and outdoor excursions seem to take up the slack.  This year, though, we are seeing otherwise.

Buyers found ways to cope with the spring market, and managed to bid on, and buy, whatever was available.  Lack of inventory, both from COVID fears and for other reasons, put a damper on transactions in most places.  We, and others, sold almost everything we could list, but there still wasn't enough supply to go around. That means that there are plenty of potential buyers out there, even in the heat of summer.  Sellers should not wait until Labor Day to list.  If we could have this kind of group of buyers every year, we would all prefer to spread the season out, and avoid the crush of May.  This year, with school openings up in the air, and not the same everywhere, there isn't the same need to try to move during summer vacation.  In fact, there may be sufficient incentive to choose certain towns now, specifically for their school systems and operating procedures.  

I just went blueberry picking for the first time this summer.  While I do love blueberries, the experience has changed from open picking to a few specific bushes per picker, out of necessity.  It does seem, however, that maybe looking at houses would be as pleasurable as my outing was, and might lead you to the home of your dreams. So maybe that staycation can be put to good use!  Remember, summer is now for sales, and there's no time like the present to begin selling or buying.