Does Real Estate Slow Down When the School Year Starts?

There are many factors that impact the housing market, and one of them is the school year. Sure, the seasons begin to shift from summer to fall, but does returning to school really have an impact on the housing market?

Real Estate in Spring: The Busiest Season

Spring is typically the busiest time in the real estate market. The mild weather, blooming plant life, and improving curb appeal make it an ideal time for home sales. Additionally, families with children often prefer to move during the spring and summer to settle in before the new school year starts. This period provides ample time for kids to adjust to a new area and school, making the transition smoother.

Real Estate in Fall: Still Active

Contrary to what some might think, the real estate market remains active in the fall. Many people begin their home search around Labor Day, after returning from summer vacations. The cooler weather is also more conducive to house hunting compared to the hot summer months. Additionally, there are financial incentives to buying a home before the end of the year, such as potential tax benefits. Owning a home can offer significant tax deductions, which can be a motivating factor for buyers to close a deal before December 31st.

The Impact of the School Year

The start of the school year can influence the real estate market in several ways:

• Family Moves: Families with school-aged children often aim to move during the summer, resulting in a busier market in the spring and early summer months. However, there is still movement in the fall as some families may need to relocate for various reasons, such as job changes.
  
• Market Inventory: With many families preferring to move during the summer, there can be fewer homes on the market in the fall. This lower inventory can create a competitive market, with serious buyers looking to take advantage of any available properties.
• Buying and Selling Dynamics: Sellers with homes on the market in the fall may be more motivated to sell quickly before the holiday season, which can lead to better deals for buyers. Conversely, buyers looking in the fall might be more serious and ready to make quick decisions, understanding the benefits of closing a deal before year-end.

Overall, while the market dynamics do shift with the start of the school year, the real estate market does not come to a halt. It continues to be active, with unique opportunities for both buyers and sellers.

If you want to know how the school year affects your local housing market, reach out to one of our agents today! 

Sources:

• We Buy Ugly Houses
• Rocket Homes