Why This Winter Should Be One of the Best Ever for Home Sales

The temperature may be going down as we inch closer to winter, but home prices in the U.S. are still heating up — and there are few signs of cooling.

Normally, home sales peak in the summer and slow once kids start returning to school. That was not the case this year.

In the third quarter of 2020, median single-family home prices rose in all 181 metropolitan areas tracked by the National Association of Realtors. Of those, 117 saw double-digit price growth from a year earlier. Meanwhile, the median sales price of an existing home sold in October 2020 hit $313,000, up from $271,100 in October 2019 and $310,600 in August, according to NAR.

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Why It Pays to List Your Home in Winter

Spring may still be peak home-shopping
season,151030_PLA_WinterSale since most families want to move when the kids are out of school. Yet it actually pays to list in the winter, when buyers tend to have more urgency: A study by online brokerage Redfin found that average sellers net more above asking price during the months of December, January, February, and March than they do from June through November, even in cold-weather cities like Boston and Chicago. And homes listed in winter sold faster than those posted in spring.

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