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People aren’t waiting for a traditional season to enter the market.” “Homes sell as soon as they come on the market. “With just one week of inventory, an uptick in seasonal activity is not possible here in Portland,” said Danielle Bade, principal broker and vice president, Better Homes and Gardens Real Estate Realty Partners & Better Homes and Gardens Real Estate Northwest Living.
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People will move as soon as the opportunity presents itself, which means for sellers, there’s never a bad time to sell anymore. Brokers are seeing some traces of seasonality, but it’s not full-blown. In Portland, Oregon, spring selling season usually starts at the beginning of the year, although it was observed that 2022 activity was stalled by the omicron variant surge. People also appear to be waiting out January and February to see COVID-19 cases go down to reduce potential exposure. In Northern New England, the spring selling season typically kicks off in March, but with only 30 days of supply, there aren’t enough homes to create a seasonal sales “spike” this year.
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In the short term, buyers and sellers can follow the advice of their agents on how to best position themselves for success.”Īccording to the brokers interviewed, the timing of the spring selling season varies. Identifying and overcoming barriers to building new homes will be critical in meeting the incredible demand for housing that now exists in our country. What is clear is that a lack of inventory stemming from stalled new development is setting the industry up for continued disruption. However, it is important to understand all of the underlying factors contributing to this significant shift in real estate market dynamics. The broker panel observed that strict seasonality is seeing signs of change. “As we enter the third spring selling season since COVID-19 emerged, the BHGRE ® brand wanted to explore what our affiliates were experiencing in different parts of the country. “Real estate professionals are highly adaptable and the last two years of the COVID-19 pandemic have proven that our industry is resilient in the face of change,” said Sherry Chris, President & CEO, Better Homes and Gardens ® Real Estate. Most notably, record low inventory levels could provide to have an impact on this year’s spring selling season. A recent roundtable discussion with several Better Homes and Gardens Real Estate brokers across the country revealed that historic seasonality patterns have been affected by today’s market conditions. Better Homes and Gardens Real Estate LLC is thinking spring – spring selling season that is.