The housing market is getting a spring in its step as winter begins to come to a close. The search for homes starts up in earnest in January, peaks in March, and continues through August for most regions around the nation, reports Forbes. But local markets can reflect their own unique rhythms, notes Trulia chief economist, Jed Kolko.
Trulia’s data reflects the following trends, based on its online search history for properties throughout the U.S. from January 2007 to December 2012:
- March and April are, generally, the peak months for search activity.
- May sees a slight decline, followed by a second peak in June and July.
- December and November post the lowest levels of activity.
- January is the peak month for Hawaii, as February is for Florida.
- June, July, and August are the hottest months for the South and a few states in the Northwest and northern New England.
- September, October, November, and December are the slowest times for all states.
Buyers who are looking for houses in the slower months of the market may be at a slight advantage over those who purchase in the spring or summer, since winter sellers are typically more motivated to unload their properties. January is considered an ideal month to make an offer. Homeowners, on the other hand, tend to get closer to asking price by marketing in the spring. According to Time.com, buyers feel that they are in a financially stronger position after recovering from holiday shopping and receiving tax windfalls.