A recent article posted on Realtor.org regarding the slowing rate of selling homes points to one unpredictable, uncontrollable and surprising resource for the dilemma: weather. The winter of 2010, though nearly over, wreaked havoc upon the northern regions of the United States, and dealt blows to states that aren’t used to dealing with snow flurries and school cancellations. States as far south as Texas experienced extreme chills, and nor’easters continue to barrel themselves against the shores of New England.
“January pending sales, though still higher than one year ago, remain much lower than expected given that a large number of potential buyers are eligible for the expanded home buyer tax credit,” says Lawrence Yun, chief economist of the National Association of Realtors. “Moreover, the abnormally severe and prolonged winter weather, which affected large regions of the U.S., hampered shopping activity in February.”
This quote provided by the article is probably no surprise to first time home buyers and renters. Who wants to enter into rental agreements or take the first steps to buying a house when merciless winter weather leaves homeowners with frozen pipes, staggering heating bills and leaks from an impending thaw?
This could be a positive piece of news for those who are buying a home for the first time, in that they can look forward to revived numbers in real estate market analysis for the spring, especially those who will be first time home buyers in the Northeast. Selling homes can be disparaging, but it’s nice to know that this winter was particularly terrible and that springtime will guarantee an increase in real estate riches for those who fell short over the past four months.
Regardless of how blustery it gets outside, how heavy the snow falls or how flooded your basement gets with incessant rain, keep in mind that there’s a light at the end of the tunnel for sellers, real estate professionals and first time home buyers alike. The soul-crushing weather of winter will soon be behind us, and with spring we’ve all got plenty of open houses and closing deals to look forward to.
Keith Munsell 
