There’s one week in April that will be the best time to sell a house this year, Realtor.com says. Here’s why

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The important season of spring has arrived. Indoor plants bloom in the spring, they usually do, but this year’s weather was not the same. It’s going to be like a mini-spring season with higher interest rates, higher home prices, and less inventory, like Chance it has already been said.

But there is one week that will be the best selling time of the year, According to Realtor.com. “The week of April 14-20 is expected to have the best real estate market in favor of home sellers, more than any other week of the year,” Realtor.com economist Hannah Jones wrote in a recent report. . There are five reasons, but none of them will have the highest annual rates. However, “although it does not have the highest price or the lowest market time of the year, this week offers higher than average prices and lower market time while also offering higher than average income.” the number of consumers – measured as viewers on the list,” he added.

First, homes during that week have reached prices 1.1% higher than the average week throughout the year, and are often 10.4% higher than at the beginning of the year, Jones wrote. And if it follows last year’s plan, the median price could be $7,400 higher for the week and $34,000 higher than at the beginning of the year.

Second, in previous years, the designated week had 18.4% more views per episode than a regular week. Last year, it had 22.8% more views per episode than usual. This brings us to the third reason, which “due to high demand, homes sold very quickly this week,” Jones wrote. Historically, homes sold 17% (or nine days) faster during the week of April 14 than a normal week.

Now for the fourth reason: less competition. Active sales are higher than last year, but still lower than the previous year, which means that sales are decreasing. The last reason? Low prices. About 24.6% fewer homes decreased in value during the selected week than in previous years. “The drop in prices is at its peak when sellers leave the market after the summer they try to attract interest,” Jones said. “Inflation tends to be lower from late winter to spring when consumer activity picks up.”

It is important to note that April 14-20 is considered the best week for sales in the world, and this may change considering the city area, which Realtor.com covers. In addition, Realtor.com selected the third week in April as the best time to sell after taking into account the weather and home metrics from the past five years, excluding 2020, and calculating the best time to book for each week of the year; interest is not one of these.

However, there is no question that this spring season will be slightly better than last year’s for retailers. Last year, existing products it fell the most in nearly 30 years, either because mortgage rates stopped or because homeowners delayed selling their homes. Sales were already strong, and this only added to the fact that home prices are rising after soaring during the pandemic. Interest rates have fallen from recent peaks, and the average 30-year fixed rate is stable sitting on 6.92 %. So the buying and selling process has begun, Jones explained, and we’re taking “baby steps to make it happen.”

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