Why the Best Time to Sell a House Is Shifting Later in the Year

In most years, the best time to list a home for sale is May. But last year, the optimal time to put your house on the market came a little later, in June. And the housing market could be on track for a similar peak in 2024.

Homes listed last year during the first half of June typically sold for $7,700 higher prices, according to a new report from Zillow. If you're a homeowner thinking about selling this spring, you may want to wait, as June could be a seller-friendly month once again in 2024, the report says.

Spring and early summer are usually the most active times for the housing market, and sellers can benefit from higher buyer demand. Home sales rise during this time of year because the school year is winding down and warmer weather makes it easier for households to move, among other factors.

Ads by Money. We may be compensated if you click this ad.Ad

Your future dream home awaits — Unlock your interest rate now

Unlock your interest rate now

Your Information

State

AlabamaAlaskaArizonaArkansasCaliforniaColoradoConnecticutDelawareDistrict of ColumbiaFloridaGeorgiaHawaiiIdahoIllinoisIndianaIowaKansasKentuckyLouisianaMaineMarylandMassachusettsMichiganMinnesotaMississippiMissouriMontanaNebraskaNevadaNew HampshireNew JerseyNew MexicoNew YorkNorth CarolinaNorth DakotaOhioOklahomaOregonPennsylvaniaRhode IslandSouth CarolinaSouth DakotaTennesseeTexasUtahVermontVirginiaWashingtonWest VirginiaWisconsinWyoming

New Loan Typei

Not sure which loan type to choose? Go with a 30 Year Fixed Rate Loan, 90%+ of Americans do.

30 Year Fixed Rate Loan15 Year Fixed Rate Loan30 Year Fixed FHA Loan30 Year Fixed Veteran (VA) Loan7/6 Adjustable Rate Loan10/6 Adjustable Rate Loan30 Year Fixed Rate Jumbo Loan15 Year Fixed Rate Jumbo Loan5/6 Adjustable Rate Jumbo Loan7/6 Adjustable Rate Jumbo Loan

Loan Amounti

You can enter the mortgage loan amount, or the total home price if you have a downpayment.

$

I or my spouse have served in the military

Enables VA loan eligibility (0% down, no PMI)

Thank you for your service!

Your estimate reflects 0% down with no PMI.

Rate data provided by RateUpdate.com. Displayed by Mortgage Research Center, LLC, NMLS# 1907, Equal Housing Opportunity, Payments do not include taxes or insurance premiums. Actual payments will be greater with taxes and insurance included. Rate and Product details

Disclaimer

×

Disclaimer

The information on the daily averages includes financial product data that was in the MRC database at the time of publication. The assumptions used to calculate the rates are as follows: Rates are based on a $315,000 for conforming loans and $850,000 for non-conforming loans of an owner occupied, single-family residence with an 80% loan-to-value ratio, and rate lock ranging from 30 to 60 days. Rates are available for consumers for fico levels starting at 620 and up to 850. Rates are subject to change without notice. Quotes are for "no-cash-out" loans. All quotes are for products or loans that can be sold on the secondary market with no prepayment penalties nor negative amortization. Home Equity: The information on the daily averages includes financial product data that was in the Curinos database at the time of publication. Home Equity Loans - Rates are based on a fixed rate home equity loan for an owner-occupied residence, second lien, 15-year or 10- year repayment terms with an 80% loan-to-value ratio, Fico range of 740 and above, with a maximum loan amount of $50,000.00 . Home Equity Line of Credit - Rates are based on a variable rate, second lien revolving home equity line of credit for an owner-occupied residence with an 80% loan-to-value ratio, Fico range of 740 and above with a maximum line of credit of $50,000.00. Contact mediasupport@mortgageresearchcenter.com to have your rates included in this chart.

Your Estimated Rate

6.6%

Estimated interest rate*

Money’s Methodology

*Based on the U.S. average rate for consumers with an Exceptional Fico score (780+) getting a conventional loan, no points, and a 20% down payment. Actual rates may vary. Click "View Rates" to contact Mortgage Research Center Mortgage Rates (NMLS #1907) for a more accurate quote.

Find your actual rate today!

View Rates

The best time to sell a home

Before the real estate market was shaken up in 2020, May had “consistently” been the best month for sellers to list their homes, according to the report. Now, the best time to put a home up for sale appears to be getting later.

“The shift to June suggests mortgage rates are strongly influencing demand on top of the usual seasonality that brings buyers to the market in the spring,” Zillow said in the report. “This home-shopping season is poised to follow a similar pattern as that in 2023.”

Last spring, the market was experiencing the highest mortgage rates that had been seen in many years. A slight drop in rates in June, however, brought buyers into the market. According to Freddie Mac data, the 30-year fixed-rate loan was 6.79% for the week ending June 1, 2023, but had dipped to 6.67% three weeks later.

Current mortgage rates are higher than a year ago at 6.88%. If mortgage rates fall again during this year's spring homebuying season, sale prices could get a boost, according to Zillow.

Some analysts are forecasting an interest rate cut from the Federal Reserve in mid-June, and if that materializes it would likely lead to a drop in mortgage rates, favoring more home sales. Zillow’s chief economist Skylar Olsen said in the report that a midyear rate cut could trigger a “second wave” of the spring homebuying season.

"The old logic was that sellers could earn a premium by listing in late spring when their home would be on the top of the pile of listings when search activity was at its peak,” Zillow’s chief economist Skylar Olsen said in the report. “Now, with persistently low inventory, mortgage rate fluctuations make their own seasonality.”

More from Money:

8 Best Mortgage Lenders of March 2024

The Income Needed to Buy a Typical Home Has Soared 80% Since 2020

Here’s the ‘Magic' Mortgage Rate That’ll Nudge Many People Into Buying Homes