The Advantages & Disadvantages of the Spring Housing Market

“Spring,” wrote famed Russian author Leo Tolstoy, “is the time of plans and projects.”

For many Americans, this special time of year means kicking off the most ambitious of plans: buying and/or selling a home.

With the spring real estate market nearly upon us, now is the time to prepare your customers for what is traditionally the busiest time of the year for buying and selling activity. Detailed here are the advantages and disadvantages of jumping into the spring housing market.

The pros & cons of buying a home

More properties, more choices

Spring has historically seen a jump in new properties on the market, with the warmer weather motivating more sellers to list. Data taken from last year’s Existing Home Sales reports shows noted increases in the number of homes for sale during the spring:

•  In March 2024, total inventory was up 4.7% from the previous month.
•  In April 2024, total inventory was up 9% from the previous month.
•  In May 2024, total inventory was up 6.7% from the previous month.

This means a buyer has more choices, giving them a better chance of finding a home that fits their specific needs and wants.

Ideal timelines for families

Buying a home in the spring is a sound strategy for a family with children. Since a standard transaction generally takes 60 to 90 days to complete, purchasing a home in the spring means families with school-aged children will be settled in time for the fall and the start of the academic year. The summer months also give children time to adjust to a new neighborhood and make new friends.

Warmer weather and longer days

Pleasant spring weather makes house hunting and open houses considerably more enjoyable for buyers. Additionally, more daylight means greater flexibility for showings, making it easier for working buyers to fit viewings into their schedule. And while a buyer may not get a discounted moving rate during this traditionally busy time of year, springtime temperatures are usually just right for moving.

Since snow and ice are good at hiding imperfections, the warmer weather also gives a buyer a clearer, less obstructed view of a property. This allows for a more thorough inspection of a home’s exterior—from the paint and siding to the roof and gutters—as well as its landscaping and outdoor spaces.

Extra funds

A buyer fortunate enough to receive a tax refund can use this money for their purchase. The money can be put toward a down payment or cover closing costs.

Spring tips for buyers

Of course, this springtime jump in listed properties and eager buyers typically means increased competition, less room to negotiate, and quicker transaction times. To properly prepare for the spring housing market, a buyer should:

• Be familiar with their preferred area. A buyer should research local amenities and trends, obtain property values in the area, and examine historical housing data. That way, when they find the right property, they can act quickly and confidently.
• Be ready to reevaluate. A buyer should be prepared to amend their list of needs and wants. In some cases, they may have to move on from a property entirely, especially if the home is not within their budget.
• Be comfortable with reassessing. A buyer should have realistic expectations for their purchase. If they are frustrated with the current conditions and are not in a hurry to buy, they may want to consider reentering the market when conditions are more favorable for them.  

The pros & cons of selling a home

The #1 advantage to selling a home in the spring? A seller can potentially maximize their selling price and make the most money possible. When there is increased demand for homes—as there generally is during the spring months—it often leads to higher offers from buyers.

A seller listing in the springtime also benefits by having a wider selection of potential buyers. The National Association of REALTORS® examined the concept of seasonality in the market and found that sales activity between February and March typically increased by 34%. Sales then continued moving upward in May and June.

If a seller wished to list their home during a time period in the spring, a 2023 Realtor.com® analysis determined the week with the most ideal market conditions: April 16–22. The analysis found that when compared to other weeks during the year, mid-April often meant significantly higher offers, an increase in online views per listing, and less days spent on the market.

One final springtime benefit is a boost in curb appeal. Come springtime, a home is generally looking its very best—thanks to bright sunshine, leafy trees, blooming flowers, and lush green grass.

Factors a seller needs to consider

While spring is typically an ideal time to sell, there are factors a homeowner must consider before listing. For starters, the season’s popularity could mean a more saturated local market and increased competition from other sellers.

Sellers also need to consider moving costs, particularly since rates are higher during the spring and summer months. Simply stated, more people moving means a greater need for moving services and higher prices for consumers. Additionally, finding the right moving company may take time due to this uptick in demand.

Finally, a seller may have to contend with an extra busy real estate professional. This means a property may not get the attention it needs or deserves. For instance, if a real estate professional has numerous open houses and listings scheduled for a particular weekend, they may not be able to prioritize the seller’s home.

Here’s hoping your springtime customers find this information to be helpful.