Spring is in the air and homebuyers are coming out of hibernation. With the weather warming up and the sun starting to shine, it’s the time of year that's typically considered a hot period for the housing market.
If you’ve considered selling your home, here are some reasons the spring is a great time to get started on those plans.
1) Spring is the peak of the year - Spring is the undisputed champion of seasons for selling a home – not only are flowers in bloom and the sky blue for some great marketing photos, but also people are chomping at the bit to get the closing process started so they can be moved in and settled before fall.
2) Interest Rates - Rate are still at historical lows. Many analyst's predict interest rate will start to rise. It is very possible that rates go up 2-3 times in 2018.
3) Little Supply High Demand - Demand has outpaced supply for the past few months. If the trend continues we will see another "Seller's Market" in the spring of 2018.
4) Government Policy Changes - New mortgage stress tests, increasing interest rates and provincial speculation taxes are how the federal and provincial government's have made policy changes aimed at cooling the real estate market.