If you’ve been watching the real estate market, you may have noticed that it’s slowed down a bit from the breakneck pace it was following during the summer months. The truth is, this type of slowdown is not terribly unusual. The real estate market tends to start cooling down in September every year until November and December, which are typically the slowest months of the year for real estate activity.
With that in mind, we’ve decided to take a look at the reasons behind why the real estate market slows down in the fall. They’re laid out below for your consideration.
The school year is back in session
Lots of people take the school district into account when they buy a home, but for people with school-aged children timing is also a factor. Often, these clients want to have their children settled into a new home and enrolled in their new school in time for the new academic year to start in early fall.
Additionally, people with school-aged children tend to get busier during this time of year. As the school year starts, so do after-school and weekend activities, which have a tendency to take away the bulk of free time that would-be-house-hunters have to view potential properties.
The holidays are around the corner
Around the same time, the holiday season starts to ramp up. Although not everyone may celebrate a major holiday during this time of year, many do and it makes a difference. Instead of spending time house hunting, potential buyers spend their time visiting with family or prepping for upcoming celebrations.
Additionally, even if you don’t celebrate anything in particular, most people have an increase in social engagements during the cooler months. Whether their gatherings with friends or seasonal parties for work, our schedules tend to fill up this time of year, which leaves precious little time for thinking about making a move.
The weather gets dicier
For people with seasonal climates, the weather may also play a role in their decision to put a pause on house hunting during the fall season. Put simply, it has a tendency to get darker earlier, which can make it tricky to get a true sense of a home if you try to view it after work. Plus, inclement weather can make viewing properties more difficult and, in some cases, even dangerous.
Additionally, if you do find a home that you love, moving during winter once you have settled on your new home would be a hassle of its own. If there was a weather event on the day of your move, it would be very difficult to ensure that all of your belongings would arrive safe and dry.
Want to learn more about the current market?
When you’re ready to make a move, contact Premier Nationwide Lending. They can help you get a sense of the current real estate market and of your lending options. Give them a call to get started.
Premier Nationwide Lending is an Equal Housing Opportunity lender. Sponsored by NTFN, Inc. 6201 West Plano Parkway, Suite 100, Plano, TX 75093 | NTFN NMLS 75333.