Over the years, the Holiday market trend has been slowest and often the lowest because both buyers and sellers set all property transactions aside to give way for the festivities. And according to the recent Orange County Housing Report, it will only take a matter of weeks from now before the autumn housing market plunges for the approaching holiday. So how is this trend affecting home buyers and sellers?
For the buyers
Waiting for the best deal to come along will not prove favorable, especially if you are eyeing a specific property. Some owners tend to postpone their selling to focus on the holidays and sometimes wait for the market to turn hot before activating their listing again. Aside from the time you will definitely lose, you might also lose potential savings or, worse, your dream property if you wait it out far more longer.
ORANGE COUNTY ACTIVE LISTING INVENTORY YEAR-OVER-YEAR (2018-2021)
For the sellers
This is is not the best time to overprice your property as it’s not only the supply that’s dropping, even the number of buyers, too. During the holidays, buyers take their house-hunting to the backseat. Usually, they would wait until they have the energy and motivation to pursue their interest, which could only happen when the market gets warmer again. Yes, you could’ve waited for that opportunity to earn more profit from it potentially, but the competition would be too tight by then. And in that case, you might not be able to sell your home immediately, and in the end, you might just be slashing off your asking price. You might also end up spending more money on marketing fees, losing you a valuable amount of profit and also time.
ORANGE COUNTY DEMAND YEAR-OVER-YEAR (2018-2021)
In summary, until the start of the holidays in mid-November is still the Autumn market. However, both buyers and sellers must understand that this is usually the period when both demand and inventory slightly drop. So while there’s still time, it is best to take advantage of the maximum market exposure, which is already happening today. So whether you’re a buyer or a seller, the best time to act is now. Find your dream home or sell your house the soonest as because this time is 2021’s last hurrah. And if you need someone who can guide you effortlessly through this process, let’s chat and discuss your best options.
