Seasonal shift in the housing market

Some folks call it “seasonality” but I can’t see the point of adding an “ality” onto a perfectly good word. . . all though “ality” is better than “osity”. Right now there are more homes on the market than there were during the spring and the summer but when you add it all up there are still more buyers than there are sellers and we are experiencing a strong seller’s market.

I’ll have some numbers this week for September home sales. It took a few more days to sell a house in September than it did in April. We know that on average September home buyers paid slightly above the asking price. We are still seeing a lot of multiple offer situations and that will continue but sellers will get fewer offers as we head into November.

The real estate market is somewhat predictable and no it isn’t slowing up, the market is just adjusting to Fall. The weather, the economy, and congressional action or lack thereof also affect home sales.

It used to be harder to sell a home in the fall and winter but that is no longer the case and it isn’t too soon to remind people that the spring home-selling season starts in about mid-January.

 

Maple leaves

I don’t think we will see the kind of fall color that we are used to here in St. Paul because of the drought. I took this picture a few years ago.

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