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A Resource For Home Buyers

We want to be a one-stop home buying resource for you, and one way we’re doing this, is by providing helpful tips and information about the mortgage industry, buying and selling your home – and many other useful topics that you’ll likely encounter on your path to home ownership. We’re confident that you’ll learn something new every time you visit this page.

Spring has sprung. What does that mean for the housing market?

Spring has sprung. What does that mean for the housing market?

It's no secret that Spring is a wonderful time of year. Depending on where you live, it could mean the end to a long, cold winter. It also means flowers and trees are blooming, days are getting longer and summer is on its way.

Here's something else that's great about spring that people may not realize: It's a great time to sell houses.

The best time to sell a home is in mid-May, according to Zillow. Homes sold during this time sell nearly a week faster, plus they sell for an average of $1,600 more.

So what is it that makes Spring such a great time to sell a home?

The School Year is Coming to and End

For families with children, the time to move is often sometime after the school year so they don't have to pull their children out of their classes mid-year. So, that means they will be getting ready to move sometime in late spring or early summer, which means spring is the time they'll start hunting.

That's why spring is a great time to put your house on the market. School years vary from district to district, so if you are trying to account for families with children when putting your house on the market, you may want to keep in mind when the year ends for the local schools. Sometimes it's as early as May, and sometimes school years extend into June.

Houses Look Better in the Spring

Spring is a beautiful time of year. Depending on your location, it may rain more in the spring than the rest of the year. However, rain can help you more than you realize. Not only will the rain wash away any remnants of snow, slush or ice in your yard or driveway, but it also waters your plants so they grow into luscious, colorful specimens.

Due to this, houses look better in the spring. For one thing, if you live in a climate that receives snow in the winter, snowfall can cover your yard, deck, roof and other important elements of your house that you want to showcase. In the spring, the rain and warmer weather will melt away the snow, and prospective buyers will be able to see everything your home has to offer. Not only that, but the flowers, trees and bushes in your yard will bloom in the spring, and your grass could look greener and healthier.

Potential Buyers are in Better Moods

Winter can be draining, especially for people who live in colder climates. It can be cold, windy and snowy, and the days are much shorter, giving people less sunlight and making them more tired. When spring finally rolls around, many people begin to feel happier for a variety of reasons.

One of the biggest reasons people are happier in the spring is that the days start to get longer. Sunlight increases serotonin levels, according to Healthline, and serotonin can help improve a person's mood. Thanks to daylight savings time as well as increasingly later sunsets, it's not already dark by the time a 9-5 worker leaves their job, so people can soak in sun rays any day of the week.

When people are happier, they have more energy and feel more motivated. This can inspire them to envision their future and check things off of their to-do list, both of which might lead them to begin searching for a new home.

The Federal Savings Bank can help you buy or sell your home any time of year. Contact us today for more information.