Take a look at the graph above, which shows home sales for 2015. Keep in mind that recorded sales dates are generally 30-45 days following the initial contract, when the agreed price is set.
This shows us that somewhere around April – when the relentless winter storms began to dissipate – the market started heating up very quickly.
To make sure this wasn’t just following a yearly trend, I also ran the numbers averaged over all years of sales data. The scale is naturally lower because of the historically cheaper homes, but it’s useful to see that the pattern we’re observing here is not replicated over the average of all years combined – something different was happening in 2015.
Maybe this is a recent trend? I pulled 2014’s data also (which you can see below) to make sure we didn’t see the same pattern there. Prices were down slightly during the winter months (to be expected), but again, there weren’t any observable correlations between the 2 years beyond that.
There’s a lot more tests that could be run to verify these ideas, but I think it’s safe to say the market started heating up in April 2015 and hasn’t shown us any signs of slowing yet.
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