June is a bustling month in the housing market as many people buy and sell during this time. If you’re planning a move and aiming to do so this month, here’s a quick overview of what you need to know to ensure you’re prepared.
If You’re Buying This June
Many homebuyers with children prefer to move between school years, making late spring into summer a popular time for home transactions. Regardless of your motivation, it’s crucial to understand that more buyers will be active now, leading to increased competition. However, there’s a silver lining: this period also sees more sellers listing their homes, giving you more options. As Bankrate notes:
“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 busy season, working with a trusted real estate agent is crucial. Your agent will keep you updated on the latest listings, provide expert advice on making a strong offer in a competitive market, and offer insights into the true value of a home to help you make an informed decision when buying.
If You’re Selling This June
With more buyers in the market this time of year, it’s a great opportunity for you as a seller. Many buyers are highly motivated to finalize their move before the next school year starts, often leading them to make strong offers. If your home shows well and is priced at market value, it could sell faster or for a higher price. As the National Association of Realtors (NAR) states:
“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.”
Ensure you have a great agent by your side to help manage contingencies and negotiations, enabling you to select the best offer. Review closing dates with your agent, as buyers trying to align their move with the school year may need to adjust their timing. This can vary depending on the local school calendar.
Bottom Line
If you’re planning to move this June, let’s discuss your options. We’ll create a plan that considers current market conditions while meeting your needs.
