When Will Home Buying Activity Ramp Up in 2020?


When Will Home Buying Activity Ramp Up in 2020?
By Scott Rogers • January 10, 2020
It should be no surprise that buying activity (contracts being signed) slows down over the Winter. As shown above -- an average of 79 buyers sign contracts in January, which then increases a bit, to 90, in February, and then makes a much larger jump in March to an average of 133/month. So, we're going to say the MARCH is when we first seem a big jump in buyer activity. For that reason, many sellers wait until March (or even April) to put their homes on the market -- though the Spring market brings more competition from other sellers in addition to meaning that we'll start to see more buyers. I have also read several articles (locally, regionally and nationally) talking about how this year the "Spring housing market" is taking off just after Christmas instead of in March like in past years. Let's take a look... Contracts Signed Between December 26 and January 8... Three Years Ago = Dec 26, 2016 - Jan 8, 207 = 22 contracts Two Years Ago = Dec 26, 2017 - Jan 8, 2018 = 36 contracts Last Year = Dec 26, 2018 - Jan 8, 2019 = 21 contracts So, over the past three years, there have been an average of 26 contracts between during the two weeks after Christmas. And how about this year? This Year = Dec 26, 2019 - Jan 8, 2020 = 25 contracts So, this year is actually starting off just about the same as we've seen for the past three years. The Spring market isn't quite here yet despite what you might read. :-) Receive Updates by Email Recent Articles: There Are Plenty Of Types Of Houses That Exist That Just Are Not Available To Purchase Home Sales By Price Range In The City Of Harrisonburg Are You Compromising On Aspects Of Your Next Home That You Can Or Cannot Change Later? How Much Slower Are The Winter Months In Our Local Housing Market? Rockingham County and New Home Sales Drive Surge in Area Housing Market Find The Balance Between Optimistic And Realistic Home Pricing Room Size Is Difficult To Understand Solely From Real Estate Photos How Much Would You Value Not Having To Prepare Your Home For Showings? One Out Of Four Homes Is Taking Longer Than A Month To Sell Consider The Cost Of Your Planned Renovations When Planning Your Offer
Have any questions? Contact Scott Rogers at 540-578-0102 or scott@funkhousergroup.com
Based on information from the Harrisonburg-Rockingham Association of REALTORS® or its MLS, for the period Jan 1, 2000 through Nov 22, 2024 (unless otherwise noted).
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