September 14, 2011
Unusual Weather Appears to Impact Home Sales
Did you know that unusual weather patterns, such as extreme heat or a very snowy winter, can have a significant short-term impact on homes sales? In Royal LePage’s recent survey of real estate agents, 41% of agents said that unusual weather patterns over the past 5 years have affected housing market activity. If a region is experiencing blistering heat or an unusually long winter, sellers can be reluctant to list and buyers seem less willing to get out an look at properties. “Severe weather, be it extreme heat, wet or cold, can prolong or delay seasonal sales cycles by weeks or even months,” said Phil Soper, CEO. of Royal LePage Real Estate Services. “There is no evidence, however, that weather events change home prices over the longer term.”
