In case you feel like you are sitting on the sideline, and wondering when the market will pick back up, new listings start to hit the market around mid-January and beginning of February. The reason is simple! Inventory starts to pick up when people return from the holidays and right after the Superbowl. I guess football really is America’s favorite pastime?
There are 3 groups of buyers currently. The 1st group are buyers who were active last year — fatigued and battle worn from the search. The 2nd group are new buyers who want to enter into the housing market. The 3rd group are buyers who have waited patiently on the sideline hoping the market would slow down and/or waiting for their lives during COVID to stabilize. From what I am experiencing, the 1st and 3rd group have really grown in size going into 2022. When spring comes around, all 3 groups converge. Therefore, if you are ready to buy a home now, the next couple of months might mean relatively less competition. If you are ready to sell, we should discuss strategies on how to reach this buyer pool effectively.