It’s Time To Talk About Market Cycles
Clients always want to know where the market’s headed. Are we at the top? Is there more to go? When is the best time to sell? When it comes to long term market cycles – I don’t know where we are headed – all indications are good. Our job isn’t to predict the future but to translate the present. However, after 25 years, I know 12 month cycles with total confidence.
In virtually all 12 month cycles from January to December – January is a get ready to get ready month. The market picks up in February as Buyers are ready to go and the listing inventory starts to enter the market, but is still not enough to meet buyer demand. The momentum continues to build through the middle of May. The majority of price appreciation happens in the first 6 months of the year. Even in a crazy year like 2021.
Then Memorial Day hits, people start to travel, kids get out of school, inventory increases, buyers are tired of getting beat up and the market shifts ever so slightly. Which means sellers still sell, but they might not experience the same number of offers and prices that escalate as high as they did in the Spring.
From there, things mellow in the summer and we get a nice push in the 4th quarter.
If you have seller clients, NOW is the time to be talking about this cycle. If they are thinking about selling in 2022, there might be some strong financial advantages to selling in the first 1/2 vs the second.
Most sellers assume they will do better in the summer, but that isn’t the case. So be a resource for your clients, and help guide them through the process to a potentially a better result than they would get otherwise.
To your success!
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