Traditionally, spring has been considered the best season to sell a home. However, a new analysis indicates that with interest rate fluctuations, that timing could be changing.
Traditionally, spring has been considered the best season to sell a home. However, a new analysis indicates that with interest rate fluctuations, that timing could be changing.
A Zillow analysis of 2023 sales found that homes listed in the first two weeks of June sold for 2.3% more than those listed in the month before.
"The best time to list consistently had been early May in the years leading up to the pandemic," Zillow reported. "The shift to June suggests mortgage rates are strongly influencing demand on top of the usual seasonality that brings buyers to the market in the spring. This home-shopping season is poised to follow a similar pattern as that in 2023, with the potential for a second wave if the Federal Reserve lowers interest rates midyear or later."
In the DC region, home sellers may want to wait even a bit longer, based on the direction of rates. The Zillow report found that homes listed in the second half of June sold for 2.2% or $12,000 more than those listed in the spring.