Traditionally, the Spring is the starting point for the annual rise in home sales. This ‘Spring Home Buying Season” usually brings more frequent home sales and a big increase in demand – plus, in many cases, higher prices due to lower supplies and higher demand.
But here at Suzanne Dranow, we’ve seen that this year is different. The lower inventory levels on the market combined with the higher demand means that the big Spring rush is starting much earlier than it usually does.
This increase in the buying rush is driven by more than just the current supply and demand cycle. It’s also due to the fact that the internet and mobile devices have helped make it easier for people to shop for the home of their dreams. There is no longer a need to constantly head out and visit each home in person. Today, people can look at their phone anywhere they are to get a look at what kind of new properties have come available on the market.
In the past, spring brought with it increased interest in the home markets and a kind of release for the built up energy over winter to finally be turned into direct action. But now, the Spring rush has been replaced by constant searches throughout the year. It’s already started in earnest, and we’re seeing an increase in early interest for homes as well as an increase in demand.
As more technology is made available and as more tools are introduced for those in the market for a home, it’s only likely that it will get more interesting in the California Luxury home market. In short, it’s an exciting time to list a home for sale and also one that’s great for those looking to buy.