How daylight savings time affects the real estate market
October 30, 2018
Love it or hate it, we are about to Fall Back. Despite gaining an extra hour to sleep in, many people have a hard time adjusting as the days seem much longer (have another cup of coffee!). Did you know daylight savings really does affect the real estate market?
HOW DAYLIGHT SAVINGS AFFECTS The REAL ESTATE MARKET
1. Less Weekday Showings (Evenings) – Many buyers are only available to see homes outside their daytime work hours & prefer to look at homes when it’s light out to see the neighborhood, yard, exterior, etc. Because of this they’ve been limited to weekend showings or taking time off of work during the week. Now that it’s darker earlier in the evenings more buyers will wait until the weekends OR they have to take time off of work (which many don’t like to do).
For sellers: More showings on weekends or during the day = Need to leave the home ready to show when you leave for work!
For Buyers: More daytime showings or it will be dark = Need to be more flexible on availablity
For Realtors: We may be able to work less at night
2. Psychological – After work when it’s dark out, our bodies think it’s time to relax, stay indoors, and wind down for the night. This is one of the factors that leads to the typical winter slow down in real estate. It’s colder and darker…not ideal to boost buyer motivation. Plus, fewer people are inclined to pack up and move while winter is approaching. Most want to “hunker” down and put up holiday decorations.
