Typically fall—and especially late fall—isn’t an active time for the housing market. Buyers slow down around the holidays, fewer sellers list their homes on the market, and there’s a predictable lull before the New Year.
But this year, that’s not the case. In fact, buyer demand has grown in every region of the country, with the South in particular boasting the second-highest percentage of increased buyer traffic! Here’s how the numbers break down, and how you can take advantage of it as a seller.
Buyer Demand is Up
For the second month in a row, buyer interest is up in every region of the nation, including the Midwest, the South, the Northeast, and the West. This is likely largely due to low mortgage rates that have been present for most of the year, which makes buying in general more attractive and affordable.
Here in the South, we’ve generated the second-highest level of year-over-year buyer traffic growth, coming in at 6.4%—the largest jump in activity since last spring! The Western U.S. dominated the race at 8.9%, while the Midwest was lagging, but still in the game, with a .8% growth. Nationwide, the activity increase averaged out to 4.6%! For late fall and winter sellers, this is fantastic news
Buyers are Motivated
One of the best things about selling during this time of the year? You won’t have to deal with buyers who are causally shopping. Instead, you can expect that most people out hunting for homes are hoping to move in before the new year—which works in your favor.
Since buyers will be on a timeline, they’re less likely to want long, drawn out negotiations. While they will probably be a little pickier about the home they choose, that just means that you have even more leverage—inventory is low, and if they walk away from your home, it could take them weeks to find another that they like.
Competition is Low
While spring and summer typically boast higher prices and more activity, that also means that other sellers are looking to capitalize on those benefits, as well. But in late fall and winter, seller activity takes a dramatic dip—and the limited listings on the market suddenly become much more attractive for motivated buyers.
There will still be other homes on the market, however, so don’t take this as an excuse to slack off on staging or marketing. In fact, staging and marketing are even more important during this time of year, since buyers are more selective in the homes they choose to tour!
Want to Bring Buyers to Your Front Door?
Linda Craft & Team, REALTORS® can help. We have over 350 years of combined experience, which makes us perfectly suited to ensure that your home sells not only quickly, but also for the highest price possible.
Want to add your home to our list of over 10,000 successful sales? Take some time to browse our resources, learn more about what we have to offer our clients, and give us a call when you’re ready to take the next steps.
