When does most New Inventory Hit the Real Estate Market?
When does most New Inventory Hit the Real Estate Market? As it turns out, that question has a simple answer: April. According to the National Association of Realtors®, most people list their homes in April. In fact, in 2016, April 1st was the day on which the most homes were listed. April 15th came in second. If you think about it, April is a pretty good time to list a home, especially in Illinois. The weather has usually turned the corner by then, and people are making plans to move. If a home is listed in April and gets an offer in April or early May, the closing will probably be in May or June. Families are looking to close around that time because they don’t want to take their kids out in the middle of the school year.
According to the National Association of Realtors®, the next most popular months to list are March, May, June and July – in that order. In fact, in 2016, half of all the new listings were between March and July.
Also, most new listings are placed on the market on Fridays, closely followed by Thursday. I don’t know about the MLS everywhere, but here in Illinois, a listing gets “new” status for a few days and is likely to be seen by more people as a result. Posting before the weekend is smart because many home buyers are out looking on weekends.
So if you’re in the market to buy a new house this year, and if last year was any indicator, you should keep a lookout now! If you’re in the market to sell, your competition probably went up last month, in March. Either way, if you’re looking to move this year, it’s time to start thinking about selling or buying!