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As we wrap up Fourth of July celebrations and the last fireworks fade, for many, summer has finally begun. In many parts of the country, the last two weeks of June mark a turning point in the real estate calendar: Father’s Day, graduations, proms and other activities divert attention from real estate. In our area, we see a dramatic slowdown in buyers coming through open houses as we near the end of June, signaling that change is ahead.
With the advent of summer, patterns begin to morph. That will be especially true over the next two months as the pandemic is behind us, and many are looking to this summer to get things back to normal. Youth sports teams are in full swing, vacations away are back in vogue, boats are cluttering the highways on weekends, and everyone is trying to make up for the summers we lost due to COVID.
This includes Realtors
For many agents, 2023 has been a nightmare year. Sales volume is down dramatically as inventory has been as absent as a hen’s teeth. Although a number of agents have already dropped out, others are hanging on by a thread, hoping that things will turn around in the next few months.
Interest rates are projected to be lower toward the end of the year, which should prompt a jump in sales, but in many parts of the country, the yearly peak selling season is already behind us. Factor in a surge of summer activities, and the short-term prognosis is more of the same. Those Realtors hoping to cash in on any surge come fall need to be working harder than ever now to set the stage for success.
Put succinctly, if you are looking to slow down to enjoy the summer, your business may take a significant hit as autumn leaves begin to fall. When it comes to having clients to work with come September, Nat King Cole says it best:
The…