What is the trueBlack Friday of the housing business?
Here’s a holiday shocker: Dec. 28 was actually one of the busiest days for real estate searches in the entire year, despite the fact that Dec. 24 was the single slowest.
The reason: When we’re over the holiday hump but still on break, it’s a great time to look for our dream home. The same reason explains the surge of activity on New Year’s Day. And, perhaps buying a house is a popular New Year’s resolution?
The Thanksgiving slowdown only lasts as long as it takes to digest that huge mass of poultry—and hit a few Black Friday sales. By Saturday, it’s pretty much business as usual.
Another surprising, best-performing day on a holiday weekend: the other side of the year, July 6. Instead of traveling, many buyers apparently use the long weekend in the height of the buying season to search for homes and go to open houses.
Overall, the spring market typically has the best combination of inventory and value—more homes go onto the market, but prices have not yet thawed. If you miss out on that sweet spot, the second-best opportunity is in fall. Sept. 1, on Labor Day weekend, was another top performer—it’s all part of a seasonal pattern that buyers and sellers can use to their advantage if they are not constrained by school schedules or job transfers.
Moving beyond Thanksgiving, we looked at the impact of all major holidays. Take a look at the graphic: Dark red indicates higher traffic, while light yellow indicates lower traffic.
Besides family-oriented holidays, there’s one more holiday that significantly slows down home-searching activity. Nope, not Mother’s Day, not Father’s Day, but … Valentine’s Day. Think about it: Your significant other wants to take you out for a romantic dinner. Are you gonna say no because you want to stay at home to browse photos of fixer-uppers?
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Bobbie Files is a Real Estate agent at SUCCESS Real Estate, covering the Bristol, Plymouth and Norfolk County areas.