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

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

June is a bustling month in the housing market, with many people buying and selling. If you’re planning a move and want to make it happen this month, here's a snapshot of what you need to know to ensure you’re ready.

If You’re Buying This June

Many homebuyers with children prefer to move after one school year ends and before the next one begins, making late spring into summer a popular time for homes to change hands. Whether that’s a motivator for you or not, it’s important to realize that more buyers will be looking right now, leading to increased competition. However, there’s a silver lining: this time of year also sees more sellers listing their homes, giving you more options to choose from. As an article from Bankrate explains:

“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 important to work with a trusted real estate agent. Your agent will help you stay on top of the latest listings, provide expertise on making strong offers in a competitive market, and offer insights into the true value of homes so you can make informed decisions when buying. 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

Because there are more buyers this time of year, you're in a great spot as a seller. Many of those buyers are highly motivated to make their move happen before the next school year kicks off – so they’ll likely put in strong offers to try to make that possible. That means, if your house shows well and is listed at market value, you could see your house sell faster or for 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.”

You want to be sure you’ve got a great agent on your side to help you navigate the contingencies on those offers and any negotiations that take place so you can choose the best one. Discuss closing dates with your agent, as buyers trying to align their move with the school year may need to adjust the timing. This can vary depending on the school calendar where you live. 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 planning to move this June, let's connect to discuss what you can expect. Together, we can create a plan that considers the current market conditions while meeting your needs.