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All this snow is proving to be an obstacle in the real estate world. Whether trying to buy or sell a home, people are having difficulty conquering the snow. Countless open houses have had to be canceled weekend after weekend. Roofs are leaking, ice dams are forming, all negatively affecting the homes. Selling a home is difficult enough without having to worry about fixing unanticipated damages. Deals are also being pushed back due to inspectors not being able to exam things like roofs, septic tanks, and other features that have been buried under the snow.
If an agent is lucky enough to sell the home, both sellers and buyers have to deal with moving furniture and appliances in and out of the homes. That means plowing paths and clearing ice to avoid damaging anything in the process.
With all of these challenges, it will be interesting to see what happens come Spring. With many sellers wanting to wait until the snow clears to list their homes, there will most likely be many homes on the markets, which could increase supply and reduce demand, negatively affecting prices in terms of brokers and sellers’ perspectives.