Is the (Home) Buyer Serious? Here's One Clue

Requesting a Sat. Showing on Wed.

I don't have any statistics backing me up, but it sure seems like there's a relationship between how far in advance a showing is booked, and how serious the Buyer is.

The explanation?

Here's my theory:

Serious buyers are methodical, and methodical Buyers carefully plan what they want to see.

Which is smart: the best way to learn the market is to see a succession of homes at the same price point, in the same general location, all in a row.

That takes a little more advance planning.

It's also the case, that, in late Fall in Minnesota, the market is slower-moving.

So you can set up showings for the weekend several days in advance.

The bottom line?

As a listing agent, when I see a showing booked on Wed. for the upcoming weekend, I take it more seriously than one I see booked two hours -- or two minutes -- ahead.

The latter are almost always what I call "what the hell showings," by Buyers who are already on the block looking at something else.

Or . . . maybe they just have a very disorganized Realtor.

P.S.: contrast this post with an earlier one, "Unserious Buyers."

Housing Market "Do Si Do"

"Pick Your (Housing) Partner"

Swing your partner ‘round and ‘round,
And turn your corner upside down.
And turn your corner like swingin’ on a gate,
And meet your partner for
a grand chain eight,
And hurry up boys and don’t be late.

--Square dancing lyrics

What does the upcoming Fall housing market have to do with square dancing?

It's when Buyers and Sellers "pick their partners," before colder weather and the holidays slow things down. (Ditto for landlords and renters).

So here's a rare (but safe) prediction from yours truly:

The Twin Cities housing market is going to accelerate noticeably after Labor Day.

Assuming that most people want to close by Thanksgiving, and taking into account that the average interval between signing a Purchase agreement and closing is six weeks, Buyers and Sellers will want to consummate a deal by early October.

P.S.: as part of that acceleration, look for a spike in new listings and price reductions after Labor Day.