We are in the throes of the Dogs Days of Summer. Traditionally this time of year shows itself in August, but it appears as it may have come early in 2011.
A friend of mine recently asked me about the housing market, and what these "Dog Days" do to the market. Most Realtors don't like to tie the real estate market to the weather, but I think there is some correlation.
Obviously, spring and summer are the "hot" market times for buying or selling a home. As we venture into late summer the market begins to slow as the buyers and would-be sellers are on vacation and soaking up the last of summer sun and fun. The market then picks up again from late August until mid-November as people try to make a move before winter sets in and the holidays approach.
This year I don't see things working that way, at least in my neck of the woods. In Westmorland, three new homes came on the market in the last week! Several new listings popped up in the Dudgeon-Monroe neighborhood, too.
Why now? My theory is that interest rates continue to hover at all-time lows and no one can predict the future. There are also rumors that a new flood of foreclosures will be released onto the market soon. If the rumor is true, sellers are trying to get out ahead of the curve.
Whatever the reason, the market is still humming along, regardless of the date on the calendar!
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