Going back, back in my early days in real estate about a decade, I clearly remember a September Sunday afternoon as I was speaking with a wise old-timer. It was a beautiful afternoon in South OC and yet very few people were walking into an open house that I was holding. A ran into the old-timer and he let me in on an old secret: “Football has started. You won’t see anybody out for months now.” Of course, I scoffed at the notion that the NFL could possibly keep people from buying a house – “this old timer is nuts!”

And here we are, on the verge of the Super Bowl, and I can’t wait for this thing to be over! Yes, I’m an avid football fan and I enjoy the season as much as anyone, but the end of the football season marks the beginning of a new season… “the homebuying season.” It turns out that the old-timer was right. During football season, the homebuying activity slows to a crawl and then, ta-da! As football ends, the real estate activity spikes.

Check out this chart. It shows “South OC real estate deals closed by month for the past 5 years (info is taken from the Southern Cal MLS)” – its adjusted to start at the beginning of football each year (Sept) and each line is one of the past 5 years. Yes, it shows that last year there were fewer closings than the other years. Yes, it shows that this past fall has been the slowest of the 5. But…no matter which year you look at, the trend is the same. The largest “spike” in closings occurs from February closings to March closings. 

So let’s enjoy that 5 pound tub of guacamole as we kick off my favorite time of the year…homebuying season!

PS – what does this mean if you’re a home buyer? It means that there are other people out there just like you. They’re looking at the same homes you’re looking at and they’re poised to buy a home today. If you see the home you like, then buy it. If you don’t buy it,  somebody else will.

PPS – what does this mean if you’re a home-seller? Get that home spiffed up and get it on the market. If you want to expose it to the maximum number of buyers, your window is opening right now. Especially if you’re going to do the old, “test the market at a high price and then drop the price if it doesn’t sell in 30 days” routine, then you’ll want to have time to adjust your price down while the activity is still going. Take a look at the chart and see what happens after May? Yep, those sellers are fighting over fewer buyers as the window closes…. You’d rather be on the market when there are more buyers, right?

PPPS – do you really think the market pattern is a result of the NFL season or just a coincidence? I guess it doesn’t matter what the cause is, as long as you recognize the pattern, right?

If you need any help in planning your real estate deal, just give us a call. We’ll be happy to discuss your situation over the phone and answer all of your questions without any obligation at (949) 888-6788 or via email: TeresaMihelic@RealtyExecutives.com