Many of you have been contacting me asking what happens to home prices in the winter:
Hi, everybody. It’s Ruth. It is a very cold Saturday morning here in Brooklyn, Massachusets and I wanted to talk just a couple of minutes to answer a question that several of you have been asking me recently, which is what happens to the real estate market in winter? So there is indeed very much a cycle in the real estate market and the average pricing, if we look over the whole country, on average what do prices do? They go down in the winter. Does that mean that the value of your home goes down in winter? Well, looking at the statistics more closely what I recently learned from actually Lauren Tune, the chief economist at the Nation Association of Realtors, is that those prices go down not because your home is worth less, but because more smaller homes are purchased in the winter while the spring and summer markets are dominated by large, family houses. So it’s really the whole nature of the real estate market that changes during the winter. Not the value of the properties.
If you have any questions about how to successfully sell a property, any time of year, give me a call. I’d love hearing from you. Call, text, comment below. Thanks.