Why might July, August be a good time to buy or sell in the DMV?
Typically, we agents talk about the real estate cycles in this area as having a “spring market” and a “fall market,” meaning that usually more homes come up for sale in the spring and fall, and more buyers hit the streets at that time looking for their first or next home.
Many factors can affect this cycle – weather, election years, and interest rates are just a few of the factors that can interrupt the cycle.
This year, the interest rates have been higher in the spring than they were for the past several years. I am hearing more reports from agents that their buyers might be waiting.
Well, the waiting game can’t last forever. As the public gets more used to the higher rates of late, and the fed seems like it has temporarily paused the next rate hike, I am hearing from agents that this summer still could be a good time to buy and sell.
