As temperatures rise, so does real estate activity. Summer is one of the most dynamic seasons for home buying, selling, and financing. Understanding summer’s influence on the real estate market is important to making smart financial and homeownership decisions.
Summer tends to be peak season for home sales, and this increased activity translates to opportunities for homebuyers and home sellers. Here are some of the key factors that can impact the market during this time and how to take advantage of it.
Demand Heats Up & Listings Increase
- Families with children prefer to buy and sell during summer to settle in before the school year.
- Nice weather and longer days make home tours, open houses, and moving more convenient. Homes also look more inviting in the summer with lush landscaping and outdoor spaces in full bloom. And pools, patios, and gardens are major selling points, potentially increasing property value and increasing buyer attention.
- Warmer weather can also increase buyer interest in vacation homes. And with increased abilities to work remotely, changing environments and surroundings for work-from-home buyers can be even more appealing.
- With the combination of increased inventory, increased buyers, and summer season urgency, speed in real estate transactions can become increasingly significant during this season.
Opportunity in the Summer Real Estate Market
As the market shifts through the summer months, there are opportunities for homebuyers and homeowners. Homebuyers may find opportunities with increased inventory and a short season to negotiate better deals by structuring offers strategically. Homeowners may consider selling to capitalize on higher demand or take advantage of increased equity through new or additional mortgage financing.
- Tips for Homebuyers: Get pre-approved early to be prepared for a potentially fast and competitive market. Being able to move quickly and confidently with an offer when you find the right home is important during peak seasons and can give you the edge. The Directors Mortgage Pre-Approval Advantage offers up to $10,000 of earnest money protection for financing, so you can confidently make a winning offer.* Connect with one of our Mortgage Specialists to find out how we’ve been strategically using this along with speed to make our clients’ home purchase offers even more competitive.
- Tip for Homeowners: If your home’s value has increased with a market shift, refinancing or taking out a home equity loan could be a smart financial move. Homeowners can leverage their equity for home renovations, debt consolidation, or helping finance a major life event. To explore refinancing or accessing your home’s equity, give me a call or check out more information here: https://www.directorsmortgage.com/mortgage-refinance-calculator/.
Or, if you’re thinking about listing your home and what your next move might be, let’s connect to strategize how selling your home can work to get you into your next home. And if you’re looking to buy before you sell your current home, ask us about our bridge loans that may allow you to make an offer that is non-contingent.
Whether you’re buying, selling, or refinancing, understanding market trends will help you make informed decisions. Working with an experienced Mortgage Specialist is key—they can help you get pre-approved, set up a strategy, navigate market fluctuations, evaluate down payment options, and choose a mortgage solution that works with your homeownership goals.
Contact our mortgage experts today to explore strategies for your home financing needs.
*Provides buyer or seller with financing protection of up to $10,000 (or lesser amount which is equal to earnest money), if the purchase agreement is canceled for any reason related to the financing contingency. Pre-Approval Advantage is based on information received from the borrower and should not be construed as a formal loan approval; nor does it acknowledge a full commitment to lend by Directors Mortgage.
Source: Directors Mortgage
INTEREST RATE TREND: 30 Year Fixed Rate Mortgage
