According to the National Association of Home Builders, June is National Homeownership Month.
What does this mean for realtors?
June is a great month to push for home sales and deal closings.
Although previous data from CoreLogic already suggests spring and summer are the strongest times of the year for the home market, an even bigger upturn seems to be occurring as well.
Many home markets across the U.S. are seeing improvements in sales, interest rates and overall homebuyer satisfaction.
The top 10 home markets according to the latest data from Realtor.com include:
- Denver-Aurora-Lakewood, CO
- San Francisco-Oakland-Hayward, CA
- San Jose-Sunnyvale-Santa Clara, CA
- Dallas-Fort Worth-Arlington, TX
- Vallejo-Fairfield, CA
- Boston-Cambridge-Newton, MA-NH
- Santa Cruz-Watsonville, CA
- Santa Rosa, CA
- Ann Arbor, MI
- Detroit-Warren-Dearborn, MI
This surge in home sales is being caused by:
- A growing listing inventory: Although it's lower than previously recorded numbers, the number of homes available for sale is growing. With more choices, homebuyers are viewing a range of home possibilities strengthening their idea of what they want and broadening it as well.
- Catering to new homebuyers: The home market is currently targeting new homebuyers with lower interest rates, decreased closing costs and better payment options. If some of your clients are first-time buyers, encourage them to buy now while the market is in their favor.
- Old fashioned supply and demand: The home market constantly revolves around supply and demand. As the need for new homes increases, so will prices and quicker closing deals. Although homes may sell quickly, encourage buyers to not settle, but rather check out what the market has to offer, before a final decision is made.
In addition, make sure buyers understand the importance of a home inspection before signing the dotted line. The cost of home inspection often outweighs the cost of problems that may arise in its absence. Schedule a home inspection with Alban Inspections today for energy efficiency and overall home safety.