Ask An Agent: Will The Market Be Flooded With Homes After Labor Day?
In this week’s installment of Ask An Agent, a reader wonders if the market will be flooded with new homes after Labor Day. W.C. & A.N. Miller’s .(JavaScript must be enabled to view this email address) offers up some insight.
Question: I have heard that many home sellers are waiting to put their properties on the market until after Labor Day. Is this true, and is it typical that most markets are flooded with listings at the beginning of fall? I have been looking all summer, but stopped toward the end of August because I felt as though the selection was not as good as in previous months. Will September bring a whole new inventory of homes?
Answer: The traditionally slow months in real estate are between November and January and late summer, particularly in late August around Labor Day. Many sellers decide to take their homes off the market during the holidays, assuming no one will be buying during this time. Prospective sellers hesitate to put their properties on the market during these months for the same reason and the fear that the number of days on market will just steadily climb, and make the home seem unattractive.
To answer your question, yes, in September (after Labor Day) you should expect to see a rise in the inventory because many sellers will be back from vacation and generally more focused. That said, it is important to remember that a property that is priced right and shows well will usually receive a fair amount of attention in any month.
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This article originally published at http://dc.urbanturf.com/articles/blog/ask_an_agent_will_the_market_be_flooded_with_homes_after_labor_day/1273
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2 Comments
I figured. The selection was a little “ehhh” in the last two weeks on August. Thanks for the info.
It’s not just real estate though—a lot of industries quiet down in the last few weeks of August.