Soon there will be 30,000 homes coming onto the market in the first quarter of 2020. Don’t believe it? It’s true! There’s a misconception floating around that the first quarter is the best to buy or sell a home.
Here’s what historically happens in the first quarter of any year: Over 30,000 homes come on the market for sale, in addition to what’s already on the market. Whether that’s positive or negative is determined by demand. Are there enough buyers to absorb that inventory or will inventory start to build up? Are rates low enough where buyers can afford to buy those homes? Are sellers asking sensible prices for those homes? There are many variables.
Currently, we have a shortage of new homes on the market for sale. All those new homes entering the market in the first quarter isn’t necessarily a bad thing—it will give buyers more options to choose from. Also, more buyers come out in the spring to look at homes.
So, when is the best time to buy or sell a home? One of the benefits of Arizona is that there’s never a “best” time to buy or sell; it’s always a wonderful time. We don’t have adverse weather that pushes buyers out of the marketplace. In certain parts of the country, if it rains too much or there are heaps of snow, the market can completely pause. If you’re not originally from Arizona, you may not know that the market actually picks up during the cooler months because people are coming here from places that have worse weather wanting to buy homes.
We persistently have people wanting to relocate here. We have one of the fastest-growing counties in the nation! We have a net population increase every year. So, there’s no negative time to buy or sell a home—it’s what’s most suitable for you.
Here’s my advice: List your home when you don’t have much competition. Right now is a wonderful time to list because we don’t have as many homes on the market that need a buyer. Most people are waiting until after the new year to list their home. Put your home on the market now and you can take your home temporarily off the market during Thanksgiving and Christmas. You can show your home during the fourth quarter when buyers need to purchase a home. With fewer options to choose from, you can get a better price and you can always close after the holidays.
Also, rates are currently below 4%!
If you would like to discuss this in detail, feel free to call, text, or email me. I look forward to hearing from you soon.