Question: How does summer vacation play into the market?
Answer: During the summer months, more homes go on the market due to sellers with children not wanting to interrupt their school schedule. In June and July we see a surge in the number of homes being listed, and with this, prices often stabilizing due to the added inventory. Simply speaking, when there are more homes available on the market, buyers have more choices, and prices level out.
Because of this increase in inventory and price stabilization, June and July are a perfect time for buyers to find a home in this competitive market.
Along with more sellers, there are usually more buyers on the market in June and July, although this number will drop off in August. If buyers have school-aged children, they need to be settled into their new homes by this time so their kids can be registered and ready to start classes back up at the end of the month!
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