Seasonality is a normal pattern in the real estate market, causing the volume of sales as well as the pricing trends to peak and dip, depending on the time of year. Seasonality is the result of market dynamics, the overall economy, weather, holidays, and even school schedules.
As a seller or a buyer, you can make more informed decisions when you have a solid understanding of seasonal housing sales trends. If you are a new buyer, it can be extremely beneficial to speak to an experienced Gurnee, IL real estate lawyer before you make any decisions that cannot be undone.
What is the Traditional Seasonal Real Estate Cycle?
Barring exceptional national issues – like a recession – the real estate market follows a fairly predictable cycle. Although the specifics of this cycle can vary somewhat, based on the region, most real estate markets experience the same seasonal cycles, which include: