OC Housing Report: Coming Up…Spring

COMING UP…SPRING

MANY MISTAKEN THE SUMMER MARKET AS THE BUSIEST TIME OF THE YEAR FOR HOUSING, YET IT IS THE SPRING MARKET THAT IS HOME TO THE MOST REAL ESTATE ACTIVITY YEAR IN AND YEAR OUT.

Spring officially begins on Saturday, March 20th, and it is also the start to housing’s Spring Market, the busiest time of the year for housing. More homes are placed into escrow during the Spring Market than any other time of year. That is when the FOR-SALE sign is adorned with a smaller “SOLD” sign, letting the world know the home is no longer available to purchase.

Many mistaken the Summer Market as the busiest season for real estate, but it is simply not true. Most families prefer to move when the kids are either out of, or about to get out of, school, between May and July. To accommodate that goal, they need to close escrow during those months. That means that they must come on the market during the spring, pound in that FOR-SALE sign, and open their home to potential buyers from March through June. The intention, of course, is to place their home into escrow as quickly as possible. It typically takes between 30 to 45 days to close escrow.

Below is a Snap Shot of the current OC Housing Report: Coming Up…Spring

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