What To Expect if You Buy or Sell a Home This June

What To Expect if You Buy or Sell a Home This June

June is a bustling time in the housing market, with many people actively buying and selling properties. If you’re planning to move this month, here's a quick overview of essential information to help you prepare.

If You’re Buying This June

Many homebuyers with children prefer to move between school years, making late spring to summer a popular time for real estate transactions. Whether this is a factor for you or not, it's important to note that more buyers are active now, leading to increased competition. However, there's a silver lining: this period also sees a rise in listings, giving you more options. As an article from Bankrate points out:

“Late spring and early summer are the busiest and most competitive time of year for the real estate market. There’s usually more inventory listed for sale than other times of year . . . This is a double-edged sword for a buyer, as you will be met with more opportunities but [also] much more competition.”

During this bustling season, partnering with a trusted real estate agent is crucial. An experienced agent will keep you updated on the latest listings, provide guidance on making a competitive offer, and offer insights into the true value of a home, ensuring you make an informed decision. As Forbes highlights:

“Approaching the market confidently, armed with good information and grounded expectations will take you far. Don't let the hustle of the market convince you to buy something that’s not in your budget, or not right for your lifestyle.”

If You’re Selling This June

With an increase in buyers during this time of year, sellers are in a favorable position. Many of these buyers are highly motivated to move before the new school year, often leading to strong offers. If your home is well-presented and priced at market value, it could sell faster or for a higher price. According to the National Association of Realtors (NAR):

“Warmer weather and the end of the school year encourage more people to buy and sell, respectively. Buyers are looking to move and settle before the new school year begins, contributing to increased competition and, consequently, higher prices.”

Having a reliable agent by your side is essential for navigating the contingencies and negotiations associated with offers, ensuring you select the best one. Discussing closing dates with your agent is crucial, as buyers aiming to synchronize their move with the school year might require flexibility or urgency. This timing can vary based on the local school calendar, as elucidated by U.S. News Real Estate:

“ . . if your house goes under contract in early summer, the buyer may ask for a delay in closing or move-in until the school year finishes or their current home has sold. Alternatively, a buyer later in summer may be looking to close quickly and move in under a month. Remain flexible to keep the deal running smoothly, and your buyer may be willing to throw in concessions, like covering some of your closing costs or overlooking the old roof.”

Bottom Line

If you're considering a move this June, let's connect to discuss what you can anticipate. Together, we'll devise a tailored plan that aligns with prevailing market dynamics while also meeting your specific needs and preferences.