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“Unforgiving Seasonality: Real Estate’s Biggest Boom-and-Bust!

The real estate sector has experienced significant changes in the past months, and 2020 is no exception. With seasonal fluctuations causing a decrease in sales and prices, a new trend has come to light that has some property owners worried. Seasonality is the term used to describe how certain markets are affected by cyclical changes in the year. Usually when summer rolls around, property values and sales increase due to higher demand in the market. In contrast, winter can have a negative effect on real estate due to lower activity in the market. However, 2020 has seen a dramatic shift in the pattern. In some areas, property values are actually dropping as buyers shy away from the market, even in the traditional summer months. This is due to a variety of factors, such as the lingering effects of the pandemic, economic instability, and more. The good news is that experts believe that the current trend of seasonality is unlikely to be long-lasting. The market is expected to regain its strength in the coming months as buyers who have been sitting on the sidelines jump back in. In addition, the real estate market is expected to benefit from government stimulus and an increase in home loan availability. Property owners should remain vigilant and research the market as best as they can. By doing so, they can better position themselves for success in the future. In addition, property owners should maintain their properties in good condition, as this can help increase their value and help them command higher sales prices when the time is right. While seasonality is dropping a big bomb on the real estate sector, it is expected to be a short-term trend. By staying informed and preparing for the future, property owners can make sure to stand out among the competition and come out on top in the end.