How Did This Winter Affect the Real Estate Market?

Written by Posted On Thursday, 21 May 2015 08:56

There's no doubt about it, this winter was a tough one! If you were fortunate enough to escape with no more than a sore back from shoveling snow, or a case of cabin fever, consider yourself lucky. Many homeowners throughout the Northeast got hit with a real whammy … weather-related losses, including buckled or collapsed roofs, downed tree limbs, lots of water damage from ice dams and leaks, and other snow and wind-related havoc.

Working around the clock, insurance agents have been processing an overwhelming load of claims related to the harsh, snowy winter. The sheer volume of home insurance claims led to a delay in settlement checks and has slowed the rebuild process. Now that the snow has finally melted, contractors are slammed and doing their best to help everyone as quickly as possible. It is no surprise that the Real Estate market has a low amount of inventory, given the lengthy claims process.

Spring is usually a time for sprucing up homes in anticipation of milder weather. For home sellers, it's a great time to do a little spring cleaning – rent a dumpster, bag old clothes for donation and make some interior/exterior improvements. Even more important for potential sellers in the real estate market is the completion of any necessary repairs that could jeopardize a sale. 

While the spring market usually takes off in early March and peaks in early summer, this year's harsh winter has created a delay in the usual influx of listings, resulting in a slow start to the busy season. The delayed start to the spring market means that it's not too late to capitalize on the opportunity to list a home for sale. For homeowners still looking to sell, this is good news! There's no time like the present for sellers looking to get into good market position. Right now, with less inventory on the market than usual, sellers who have completed any necessary repairs are in a great position to make a quick sale at a good price. With the snow finally cleared away, those "For Sale" signs are finally going to look beautiful!

For more information from the experts over at G&N Insurance, visit


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