Welcome back! We hope you all had a terrific August. August was a very busy one for the Moran Properties team, which was a fantastic way to wrap up the summer! That's right...the end of summer is near and the kids are heading back to school...well, sort of!
Being a former special education teacher, I have to give a shout out to my former colleagues and all educators out there. I honestly can't imagine having to teach under those circumstances. Kudos to you! We appreciate everything you do for the future of America with such a selfless and kind heart!
How does going back to school correlate with the real estate market?
As you have probably read in a previous blog or have overheard somewhere that the spring and summer markets are the best time to sell/buy. The reason being, the bulk of buyers are out and about looking and sellers’ cash in on the abundance of buyers. Now, as if the theoretical bell rings to go back to school, many of the buyers stop their search as their schedules get a bit more busy! With that being said, this time period really separates the real buyers from the casual lookers. We find in the fall and winter, you will find the people that need to move or buy a house instead of the people looking and if something comes up, great, if not, they are comfortable where they are for another year.
Different Times?
Obviously, we can’t predict the future, but we are not seeing the slowdown in the housing market that people are expecting from the shutdown. There are a couple things that make 2020 different from 2008/09. The key point being that the housing market was a major factor for the recession in 2008/09. In 2020, the housing market is in a terrific place and is helping keep the country's economy afloat.
Looking ahead, we are unsure of how the “back to school market” will look. Our prediction based on how the spring/summer market was pushed back, is that we still have a couple of really hot months before we dive into the holiday season. So, in other words…
It is still a great time to sell or buy!
Like always, reach out with any questions you may have regarding real estate!
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