Schools were closed and online searches were up as homeowners with cabin fever dreamed of new places to live.
With spring coming, March 20, what does that mean for home buyers and sellers?
The cold winter might mean more people looking to buy vacation homes in the sunny south. At least, more people dreamed of homes in sunny vacation spots. Studies show every time the temperature drops 10 degrees in the town a house hunter lives, there is a 4.4 percent increase in searches for homes in warm regions. Searches for vacation destinations rise 5.5 percent.
But what does that doesn’t mean? A lot.
The more people are searching means positive outlook of our economy, more homes exchanging hands and this reflects positive on our country.
Cabin fever, in fact, bodes well for the spring market, which is expected to be stronger anyway, according to analyst David Payne, writing in Kiplinger.com. Payne says that there will be an overall 4 percent increase in existing-home sales in 2014. Payne looks for an increase in new home sales of 16 percent.
Some people are motivated by cold weather. According to psychiatrist Keith Ablow, while extreme weather tends to snow us all in, some people take pride in defeating each storm and rising to the occasion. Those people are probably the ones who will be out looking for new digs this spring.
If you are a seller, get your house ready.