In the winter, home prices and sales tend to trend downward, while in summer, they rise. A new study looks at raw sales data to determine the impact of seasonality on the nation's real estate markets.
At the national level, the busiest months for existing home sales are May, June, July and August, while November, December, and January are slowest. By region, the Midwest and Northeast are busier in the peak season than in any other region. The National Association of REALTORS® reports that Midwest existing home sales in the slow season account for 60 percent of sales made in the peak season, whereas in the West, the share is 71 percent.
Since 1999, the National Association of REALTORS® has been releasing the existing home sales activity and prices each month. The statistics are accompanied by announcements which indicate the prior month’s activity: “Total existing-home sales, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, increased 1.9 percent from October to a seasonally adjusted rate of 5.22 million in November.”
These headline figures are seasonally adjusted figures and are reported in the news. However, using the example above, this was not the actual number of sales in November but the number of sales after adjusting for seasonality.
Advertisement
Related Stories
Market Data + Trends
Vacation and Investment Home Market Insights
A recent report finds beach homes to be the most sought-after vacation-home type and that the investment potential of a second home is an important factor in the purchasing decision
Affordability
How Much Income Do First-Time Buyers Need to Afford the Average Home?
The median-priced home is unaffordable in 44 of the 50 largest U.S. metro areas
Affordability
What Is the Relationship Between Urban vs. Suburban Development and Affordability?
A new paper from Harvard's Joint Center looks at whether expanding the supply of suburban housing could, in turn, help make dense urban areas more affordable