What To Expect if You Buy or Sell a Home This June

June is one of the most active months in the housing market. With summer on the horizon and the school year wrapping up, it's a prime time for many people to buy and sell homes. If you’re considering a move this month, here’s what you need to know to be fully prepared.

For Buyers: Get Ready for Competition

Many families prefer to move during the summer to transition smoothly between school years. This means you’ll be facing more competition from other buyers. But don't worry – the increased activity also means more listings will be available. As Bankrate highlights:

“Late spring and early summer are the busiest and most competitive time of year for the real estate market. There’s usually more inventory listed for sale than other times of year . . . This is a double-edged sword for a buyer, as you will be met with more opportunities but [also] much more competition.”

Working with a trusted real estate agent is crucial during this busy season. I can help you stay on top of the latest listings and provide guidance on making a strong offer. It’s essential to have a clear understanding of the market and what you can afford. Forbes advises:

“Approaching the market confidently, armed with good information and grounded expectations will take you far. Don't let the hustle of the market convince you to buy something that’s not in your budget, or not right for your lifestyle.”

For Sellers: Seize the Opportunity

If you’re selling this June, you’re in a favorable position. The influx of motivated buyers means your home could sell quickly and potentially at a higher price. The National Association of Realtors (NAR) notes:

“Warmer weather and the end of the school year encourage more people to buy and sell, respectively. Buyers are looking to move and settle before the new school year begins, contributing to increased competition and, consequently, higher prices.”

It's essential to have a skilled agent to navigate offers and negotiations. Timing is a critical factor – buyers may have specific needs based on the school calendar. U.S. News Real Estate explains:

“. . if your house goes under contract in early summer, the buyer may ask for a delay in closing or move-in until the school year finishes or their current home has sold. Alternatively, a buyer later in summer may be looking to close quickly and move in under a month. Remain flexible to keep the deal running smoothly, and your buyer may be willing to throw in concessions, like covering some of your closing costs or overlooking the old roof.”

Bottom Line

Whether you’re buying or selling this June, understanding the market dynamics is key. Let’s connect and discuss how we can make your move successful. Together, we can create a plan that suits your needs and takes advantage of current market conditions.

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