Is the Home Buying Season Over?

Is the Home Buying Season Over?

Well, here we are at the end of 2013 already and is the buying season over? According to realtor.com and biz journals.com the October housing data reveals that home buying season isn’t over yet. Strong list prices and demand are counteracting the typical seasonal slowdown. This is great news for buyers and sellers. The national housing trend report for October 2013 shows that the US housing market is in a completely different position than this time last year, with solid price increases, steady inventory and a strong demand continuing well into the fall season.

The usual slowdown happens in October, November, and December and partially into January where there are fewer buyers, fewer sellers or sellers that are just preferring to wait until next year, and fewer inventory. But this year, unlike those in the past, seems to be increasing with new home construction, newer subdivisions, and buyers taking advantage of lower interest rates before they increase too much farther. Sellers are finding themselves with a positive equity in their home and buyers are taking advantage of that by purchasing now before prices rise too much higher. According to the data, inventory has returned to last year’s levels, but prices continue to strengthen and homes are moving significantly faster compared to this time last year.

So what will December bring? Although most buyers and sellers don’t like moving during the holidays, these are serious sellers. Sellers need to move due to a lifestyle or job change and buyers are also serious when it comes to purchasing during the holidays. More homes will tend to close quicker and the week before Christmas will be a mad dash to get homes closed and homeowners in the right property.

The Bonita Springs area is booming with new subdivisions, new construction, and new developments with local and the national homebuilders. Buyers are finding themselves looking for  more new homes than just last year.

Call our office for more information on the new Springs real estate and the current housing market. – Source from bizjournals and realtor.com

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