Why It Makes Sense To Move Before Spring

By Articles, Buying, Keeping Current Articles, Selling January 26, 2023
Woman carrying brown boxes from house

Spring is usually the busiest season in the housing market. Many buyers wait until then to make their move, believing it’s the best time to find a home. However, that isn’t always the case when you factor in the competition you could face with other buyers at that time of year. If you’re ready to buy a home, here’s why it makes sense to move before the spring market picks up.

Spring Should Bring a Wave of Buyers to the Market

In most years, the housing market goes through predictable seasonal trends in activity. Winter is typically a quiet point in the year, while spring sees a surge of buyers begin their search. And experts project that this year will be no exception.

Right now, buyer demand is low due to a combination of normal seasonal trends and a reaction to last year’s rise in mortgage rates. But rates have started to come down since last November, which has more and more potential buyers planning to jump into the market. That means right now is a sweet spot if you’re in a good position to buy, before more buyers reappear. Affordability is beginning to improve, but demand is still low — for now. Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), shares:

“. . . expect sales to pick up again soon since mortgage rates have markedly declined after peaking late last year.”

If you’re ready to buy a home, right now is the best time to do so before your competition grows and more buyers enter the market.

Today’s Sellers Are Motivated

Low demand from buyers often means sellers are more motivated to work with you, and that can set you up to buy a home on your terms. In fact, sellers have been more willing to negotiate this winter because there are fewer buyers in the market. According to a recent article from Forbes:

“. . . sellers gave concessions to buyers in 41.9% of home sales in the fourth quarter of last year.”

But keep in mind, the advantages buyers have this winter won’t last forever. The competition you face could be greater if you wait until spring to make a move, and increased buyer demand means sellers will have less motivation to negotiate with you. Be sure to work with a trusted real estate professional to learn what you can expect in your local market right now.

Bottom Line

If you’re in a good position to make a move, it may make sense to move before spring. Working with your team of expert real estate advisors is the best way to learn about the current market and what it means for you. Let’s connect today to determine the best plan to achieve your homebuying goals.

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About the Author
Richard Wamsat
Richard Wamsat
Richard Wamsat is a Broker Associate and REALTOR with Coldwell Banker Realty in Irvine, California (CalDRE #01345167). Since 2002, Richard has represented clients throughout California in all price ranges, from first time homebuyers purchasing their first condo to seasoned investors buying and selling higher end properties. His current focus is on helping buyers and sellers in Orange County.

Richard bought his first home at nineteen and has worked in both Northern and Southern California markets, including the difficult years of the Great Recession when he negotiated with banks to help homeowners avoid foreclosure or get relief from underwater mortgages. That experience, combined with hundreds of successful closings since, gives his clients a practical understanding of how deals really get done in changing markets.

Committed to professional negotiation, Richard earned the Master Certified Negotiation Expert (MCNE) designation from the Real Estate Negotiation Institute, a member of the Harvard Program on Negotiation, along with additional credentials such as CNE, AHWD, CDPE, and SFR. Fewer than one percent of agents nationwide have achieved the MCNE designation, and Richard uses that training to structure offers, counteroffers, and terms that protect his clients’ interests without overpromising or relying on gimmicks.

Richard lives in Irvine with his wife, Brandy, and their fluffy white dog, Murphy. When you hire him, you get a calm, data driven advisor who takes the time to explain your options, walk you through the numbers, and help you make confident decisions about buying or selling a home in Orange County.