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1. TIMING
Sales activity between February and March typically increases by 34%. The busiest home selling months are May, June, and July.
June is the peak month of home selling activity.
2. INTEREST RATES
US job growth and wages exceeded expectations, signaling a solid economy.
The FED will likely delay interest rate cuts until later in the year.
Mortgage rates hold steady in the 6.6-6.8% range. Lower rates would be great, but steady is good. Buyers know what to expect and can accurately plan for monthly mortgage costs.
WHAT DOES THIS MEAN FOR SELLERS?
Sellers are experiencing a pretty typical spring market. Buyers were rocked by fluctuating interest rates last year, and that paralyzed most of them. But now we have a relatively stable interest rate environment, and stable is good.
We are also experiencing a return to typical seasonality in the selling cycle. The pandemic knocked everything out of whack in terms of the selling cycle since people weren't tied to normal school or work schedules. Now we're back to the traditional busy spring market as families gear up to move into a new home and get settled before school starts in the fall. Even buyers without school age children prefer to house hunt, buy and move when the weather is warm.
Buying or Selling in Nashville?
WENDY MONDAY • BROKER
PARKS Real Estate
@wendymondaysellingnashville on socials
615.642.1313
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