After a long spell of unseasonal sunshine, it looks like the rain may be back. The forecast for this weekend gives us nearly 50/50 odds of being rained out.
Here’s the question — if you’re active in the market right now, which would you prefer: rain or shine? I’d say it depends if you’re a buyer or seller.
If you’re a seller, you definitely want good weather. Bright sunshine and balmy weather triggers the release of home buying pheromones and gets you lots of weekend open house traffic. The more interest in your home, the better.
If you’re a buyer, especially a really committed one, you definitely want bad weather. Cloudy, overcast days, and preferably rain definitely dampens home buyer enthusiasm and reduces competition for that home you’re after.
This may explain the unusually early spring buying season we’ve been experiencing. We often get Seattle-type weather this time of year, with week after endless week of drizzing rain. As soon as the rain stops, the spring buying season starts. Last year the rain stopped late, and so the buyers came out late too. This year the rain stopped early — or so we thought — and the last two weeks have seen pretty frantic activity.
If my theory is right, and this rain persists, the market may taper off and wait until the rain really ends for the season.
Tags: For buyers, For sellers, Home buying, Home selling, Real estate, Strategy, Weather
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?RE: Any thoughts on the feds (in)activity this morning?? August 5 at 9:46 pm 
�Good news, your equity line and business line of credit rates remain the same as yesterday, as the Fed held short-term rates steady today. Why? Because despite unemployment concerns, the economy is doing fine (1.4% growth year to date-- thank you exports!), core inflation is under control at this point, gas prices have dropped over 6% recently and it's more prudent to maintain a steady helm when the economy appears relatively balanced. Eric T. Trailer, Principal
2 responses so far ↓
1 Danilo Bogdanovic // Jan 26, 2007 at 7:08 pm
Heavy rain, snow, extreme cold and wind or extreme heat and humidity are times when buyers should definitely preview properties. Most people will not want to go out and preview properties when the weather is bad or extreme so your competition (other buyers) is temporarily sitting on the sidelines and giving you first dibs.
When those days fall in a summer market or winter market where sellers are already freaking out because buyer volume is down, it’s even better. Not only is your competition taking a day off from previewing and writing offers, but it’s perfect for negotiating on price and terms.
I’ve had instances where I’ve called to arrange to show a property on a really crappy day and the sellers have said “You’re actually coming to see the property TODAY?!”.
2 teresa boardman // Jan 27, 2007 at 6:26 am
Here in Minnesota real estate market is very seasonal. We have had a warm January up until this week and we are experiencing our spring market early. If we have an early winter our sales go down. I have a freind in Nevada who has her home on the market and she says that activity slows down in August because it is too hot to look a homes.
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