June 21, 2016 | By RGR Marketing Blog

Taking Advantage of Home Buying Seasonality in Your Mortgage Marketing

There is a seasonality to the psychology of home buying and selling. Few would argue with the fact that the prime seasons for buying or a selling a home are spring and summer. The reasons for this are very straightforward, almost obvious. No one wants to deal with buying a home, let alone moving during the holidays or when the weather is at its worst.

Likewise, not as many people want to schedule home viewing and moving around summer vacations and during the hottest months of the year. But purchasing a home in the summer is still preferable to buying in the fall or winter.

Understanding what compels buyers to purchase a product based on seasonality gives marketers an edge in crafting messaging that exploits or at least pays attention to the reason for the buyer behavior. This is true for mortgage marketing as well. Nothing beats a call to action that has a ticking clock (or in this case a calendar) attached to it.

Taking advantage of limited time offers when the holidays or back to school time are looming may just be the final push that some consumers need to get serious about looking for their next home.

The Trends

Home buying seasonality is a real, measurable phenomenon. Analysis of real estate transaction records indicates that home sales between February and March of the same year jump by almost as much as a third. This trend continues through the following months with sales between March and April jumping by 10%, and sales between April and May jumping by 10% as well.

In fact, more than 40% of annual home sales in the United States happen in this three month window alone. Sales drop a bit (roughly 10%) as summer begins and remain flat until the transition between August and September when they drop off more dramatically.

The Benefits of Understanding the Trends

The benefits of understanding the seasonality of home buying trends are myriad for both real estate and mortgage professionals.

Consumers who are savvy enough to research the process and work with qualified professionals will be keen to take advantage of the selling season for homes.

Savvy buyers know that they are far more likely to find what they are looking for at a competitive price when the market is as saturated with properties as it will be all year. Savvy sellers understand that they will be far more likely to attract qualified buyers when the market is hot as well.

Knowledgeable real estate professionals and marketers of mortgage services understand that the costs marketing their properties and services provide a greater return on investment when they take advantage of the seasonal shifts of the market.

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