During the Autumn Market demand decreases slightly. With kids back in school, it is not the most advantageous time of the year to move a family. Moving during the school year is extremely disruptive, so families opt to place their home search on hold and wait it out until the following spring. As a result, there are fewer new escrows.
Similarly, there are fewer homeowners who opt to sell during the Autumn Market. Just as buyers place their search on hold, many homeowners do not want to disrupt their children’s school year and decide to wait until the Spring or Summer Markets to sell. In September, on average, there are 3,098 homes that are placed on the market, 25% less than the annual height of 4,177 homes in May. As the year progresses, fewer homeowners will enter the fray.