Princeton Town Topics – Let’s Talk Real Estate – June 5, 2024
POST-MEMORIAL DAY SURGE: WHY SUMMER IS PRIME TIME FOR THE RENTAL MARKET
As summer approaches, the real estate rental market experiences a notable surge in activity, particularly after Memorial Day. This seasonal trend is driven by various factors, making it a prime time for both renters and landlords.
Firstly, many families prefer to move during the summer when school is out, reducing disruption for children. College students also seek housing for the upcoming academic year, adding to the demand. Additionally, the warmer weather makes moving more feasible and less daunting.
Landlords capitalize on this period by listing properties, knowing the influx of prospective tenants will likely lead to faster occupancy and potentially higher rental rates. The competitive market during this time can lead to quicker leasing decisions, benefiting both parties.
For renters, this is an ideal time to find a wider selection of properties and the chance to negotiate better terms. However, it’s essential to act swiftly due to the heightened competition.
