Spring was very late in coming this year, and it's been raining every morning this week when I went out to get my paper, so summer is late as well. All around the country, real estate professionals were complaining about the effect weather was having on home sales. We all expected that May and June would be crazy, and would make up for the lost winter, as happened last year after the blizzard in February.
We're still waiting. Yes, we're busy, but no more so than in the spring and early summer that follows a normal winter. We are missing that catch-up phase, where buyers and sellers come out of the woodwork when the weather improves. This part of the year has also been the same in many parts of the country, albeit the worst area has been the Northeast.
In other places, it could be that anemic sales relate more to lack of supply than to lack of demand. It could be that Connecticut, with its 50% recovery rate from the recession is lagging for economic reasons, while others tell a different tale. We're not sure. But we are waiting for more activity, and keeping our eyes and ears open for the cause of the delay.
Action step for buyers and sellers: Treat June as though it were April. Make plans to list, which we see happening, and buy, which we're hoping will follow!
