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

June is a busy month in the housing market because a lot of people buy and sell this time of year. So, if you’ve got a move on your mind and you’re looking to make it happen this month, here’s a snapshot of what you need to know to make sure you’re ready.

If You’re Buying This June

Many homebuyers with children prefer to relocate between the end of one school year and the start of the next. This timing is a key reason why late spring to summer is a popular period for home transactions. Regardless of whether this is a factor for you, it’s important to recognize that there will be an increase in the number of buyers during this time, leading to heightened competition. However, there is a positive aspect to moving now. This season also sees a rise in the number of sellers listing their homes, giving you more options to choose from.  As an article from Bankrate says:

“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.”

During this busy season, it’s especially crucial to work with a trusted real estate agent. Your agent will keep you updated on the latest listings, offer expert advice on crafting a competitive offer, and provide valuable insights into the true value of a home. This guidance will help you make an informed decision when purchasing a property.  As Forbes says:

“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.”

If You’re Selling This June

With an increase in buyers during this time of year, you’re in an advantageous position as a seller. Many of these buyers are highly motivated to finalize their move before the next school year starts, often leading them to submit strong offers. Consequently, if your house is well-presented and priced at market value, it could sell more quickly or at a higher price.  According to the National Association of Realtors (NAR):

“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.”

Having an excellent agent on your side is essential for navigating offer contingencies and negotiations, ensuring you can select the best offer. Discuss closing dates with your agent, as buyers aiming to align their move with the school year might need to adjust the timeline based on the local school calendar.  As 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

If you’re looking to make a move this June, let’s chat so you know what to expect. We’ll come up with a plan that factors in current market conditions, but still works for you.