‘Tis the Season
Housing has transitioned to the slowest time of the year, the Holiday Market, from the mid-November through the first couple of weeks of the New Year. The Holiday Market is when the inventory and demand plunge from mid-November through New Year’s Eve.
Local radio stations are now playing holiday music, and festive lights are strung along rooflines. Everyone has their Thanksgiving plans dialed in. The holidays have arrived, along with all the seasonal distractions. It is the time of year for family gatherings, turkey and ham, shopping, holiday parties, exchanging presents, and spending time with loved ones. Real estate takes a back seat to all the festivities.
Starting the week before Thanksgiving, the housing market transitions from the Autumn Market to the Holiday Market, the slowest time of the year for housing. It is when the active inventory and demand (a snapshot of the number of new pending sales over the prior month) plunge until ringing in a New Year. The Expected Market Time (the number of days it takes to sell all Orange County listings at the current buying pace) will not change much, similar to the last few years. Regardless of the economic situation, without fail, the cyclical slowdown prevails. It is the season where many sellers and buyers will place their real estate goals and needs on pause to enjoy the holidays.
Excerpt taken from an article by Steven Thomas.
