Fall Home Buyers Are Serious Buyers
Inventory in Orange County CA usually peaks in July or early August and then drops steadily until Christmas and New Years. Toward the end of January and in February the active home inventory begins to climb again. Remember, Fall home buyers are serious buyers.
The reason for the drop in inventory in the fall is two fold. Many homes have sold but there are many homes that were overpriced and if they have not sold by the start of school many home sellers take there property off the market (cancelled or expired listings). Secondly the daylight hours are shorter and the sellers begin to plan for holiday season.
Buyers seem to get a second wind in the fall. Some buyers that were unable to obtain a home or could not compete for some reason in the spring are still out there and when vacation time is over we see them come back to the open houses. Another source of fall buyers are business people who are being relocated or transferred. Many of these transfers happen around the first of the year so those business people are often taking time to come and scout for homes on long weekends or even holiday weekends – especially the one right after Thanksgiving.
In short the buyers which show up in the fall or between the holidays are fewer but often very serious. Remember too that the inventory has been dropping so there are fewer homes to look at. In addition, investors and sometimes Realtors and out shopping in December for a good deal too. Therefore don’t be surprised, Mr. and Mrs. Seller if you get some renewed activity. Make sure your home shows great, the lights are on and the price is right.
The inventory chart below, provided by Steven Thomas, shows OC active homes for 2014 in the blue line.
For home selling or home buying advice and representation call Ron at 949-456-0505 or “Contact Me”.
Ron Buck Group, associate broker bre01364665 Keller Williams Realty.
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