It’s common knowledge by now that the weather has a tangible effect on retail sales. December sales suffer if a snowfall doesn’t happen to get consumers into the “holiday spirit,” and sunny days can mean day-long window shopping excursions that turn into impulse purchases and the obligatory dinner and drinks that follow. The real estate market is no different.
Even with major investments like real estate, consumer tendencies seem to move with the mercury, almost independent of the economic climate. In Toronto, January is traditionally the slowest month for home sales, no doubt a combination of lower cash flow after the holiday season and the difficulty of showing houses effectively. Buyers are less motivated to venture out through the snow and slush to view multiple properties, and sellers can find it difficult to showcase the true beauty of their properties through the ice and snow.
And then there’s spring and summer, “high season” for those in the real estate game and prime time for sellers who want to get top dollar for their properties by employing agents who know how to capitalize on the landscaping and vibrancy of their biggest season.
The numbers are already starting to show the rise in national home sales. According to statistics released just this month by the Canadian Real Estate Association (CREA), national home sales rose 0.6% from March to April, with home sales improving in more than half of all local markets from March to April. This trend was led by gains in the GTA, Winnipeg, Calgary and Victoria, and with the national average sale price rising 1.3% on a year-over-year basis in April, the Canadian housing market is firmly lodged in balanced territory, which is great news for buyers and sellers alike.
Even with the new mortgage rules that took effect in 2012, the market has remained remarkably steady, and the upward trend for this warmer season is still a palpable reality for all those caught up in the real estate game.
Hours of sunshine always helps me shake off the lethargy and “blah-ness” of the winter months and gets me even more excited and geared up for my work, and I can always see the excitement in motivation in my clients as well. I feed off of it, I love it. And it’s that energy that can translate into some incredible transactions this season.
Denim shorts and wedge sandals, sunshine and real estate: my four favourite summer things. I’m looking forward to having a blast. Won’t you join me?