If you’re in the real estate business it’s a question you might be asking yourself about now. May-August is the hot-season for buying and selling homes. Home are always selling, but once the school year starts, it drops a notch. Get into the holidays, drop another notch. Winter in the northern US? Falls off a cliff until the cycle starts again in late-March.
Of course, with COVID-19 becoming a significant concern in March, and depending on your state, still a major issue into mid-August, real estate really got a squeeze this year.
If you’re talking Commercial real estate, the hot spot there tends to be around the New Year. Property owners and managers are looking to adjust their portfolios, and that tends to be tied to Tax or Budget seasons.
So, here we are, looking at the end of 2020’s hot season. All’s not lost. There seems to be another spurt of activity. It’s the second I’ve noticed, tied to when optimism seems to be picking up. Real estate photography is as good a leading indicator as any. The pics come shortly before a listing (generally).
As we headed into August, the latest spurt is happening. Whether there’s any sustainability for this one remains to be seen.