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Severe Cold Weather In Northeast Causes 36% Decline In Home Sales???

By
Mortgage and Lending with George Souto NMLS #65149 FHA, CHFA, VA Mortgages NMLS #65149

Severe Cold Weather In Northeast Causes 36% Decline In Home Sales???  That is the claim HUD and the US Census Bureau is making.  HUD and the US Census Bureau released figures this past Monday crediting the severe cold weather in the Northeast with a 36% decline in Home Sales in December of 2013.  The frigid weather has actually been worst in January of 2014, so if the sever cold weather is the reason for declining Home Sales in December, than January's figure might even be worst.  We can't do anything about the weather, so what is the point of this blog? 

The point of this blog is that in my opinion the weather was not the cause of the decline in Home Sales. Every year we get hit with cold frigid weather in the Northeast, and even though this year it has been a little colder it does not stop Buyers from looking for their dream home.  All the severe cold weather has really done in my opinion, is to create a convenient alibi for not doing what we needed to do in December, and not make us feel guilty about it.

Some reading this blog might say, that is harsh George, and they may be right.  But from where I stand, if the weather is bitter cold and making it difficult to do our job, then we need to adapt.  We need to use this time to build new relationships, reinforce old relationships, and reach out to our prospects & past clients during this time.  The beauty of relationship building is we can do it in all kinds of weather.

Did the Severe Cold Weather In Northeast Causes 36% Decline In Home Sales???  If it did, then there should be an increase in sales as the weather eases up.  So in stead of sitting around looking for new alibis, and feeling sorry for ourselves, let us use this time to prepare ourselves and make sure we are the recipients of the business which will soon follow.

 

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 Info about the author:

George Souto NMLS# 65149 is a Loan Originator who can assist you with all your #FHA, #CHFA, and #Conventional #mortgage needs in Connecticut. George resides in Middlesex County which includes #Middletown, #Middlefield, #Durham, #Cromwell, #Portland, #Higganum, #Haddam, #East Haddam, #Moodus, #Chester, #Deep River, and #Essex. George can be contacted at (860) 573-1308 or gsouto@mccuemortgage.com

Posted by

George Souto
NMLS# 65149

C (860) 573-1308
CALL 7 Days/Wk
Fax (860) 760-6891

Email Me
About Me
My Blog

I am a Mortgage Loan Officer who can assist you with all your mortgage & refinancing needs in
CT, and RI

I can assist you with your Conventional,
FHA, CHFA, VA, USDA, & 203K loan programs.

I reside in Middlesex County which includes Middletown, Middlefield, Durham, Cromwell, Portland, Haddam. E. Haddam, Higganum, Chester, Essex, Deep River.

 

Comments(18)

Joe Petrowsky
Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709 - Manchester, CT
Your Mortgage Consultant for Life

Good morning George. We saw a decline in mortgage application the last two weeks of Dec and first two weeks of January, but no longer the case.

Thank you for the referral.

Jan 28, 2014 05:12 PM
George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Joe we saw a decline also but that is normal for December.  I guess that report just hit me the wrong way, now we are going to start blaming the weather for slow business, in stead of looking at ourselves and taking responsibility.

You are welcome for the referral :)

Jan 28, 2014 05:21 PM
TeamCHI - Complete Home Inspections, Inc.
Complete Home Inspections, Inc. - Brentwood, TN
Home Inspectons - Nashville, TN area - 615.661.029

 Good morning, George. I'm not sure what the stats are but it seems as if sales for January in this area are down as well. I am not sure whether folks are just being conscious of the economy or what. There is a lack of good inventory.

Jan 28, 2014 05:46 PM
Joe Jackson
Keller Williams Capital Partners Realty - Columbus, OH
Clintonville and Central Ohio Real Estate Expert

One month decline data is useless. One must look at the big picutre to track sales numbers.

Jan 28, 2014 06:34 PM
Barbara Todaro
RE/MAX Executive Realty - Happily Retired - Franklin, MA
Previously Affiliated with The Todaro Team

Good morning, George....December was one of our best months....this month has not been great....I'm with you on the claim that the weather is the cause....that's an alibi... but I assure you by the end of Feb. I'll have my marketing in the mail and ready to answer the phone...

Jan 28, 2014 06:39 PM
Debbie Gartner
The Flooring Girl - White Plains, NY
The Flooring Girl & Blog Stylist -Dynamo Marketers

Yeah, this doesn't make sense, esp the timing.  I don't remember December being that bad, but Jan has been horrible. I can definitely see Jan causing a bit a decline...but a temporary one.  I'm betting there are less people out looking and as a result maybe longer time to close.

December was incredibly slow the whole month and in fact, the slow down seemed to start last 2 weeks of Nov and things were much slower than vs. same time period year ago...and it seemed to be across many areas.

Now, in Jan, we are seeing plenty of activity but lots of delays for things closing and/or being scheduled due to snow/snow days.  Can't wait for the spring.

Jan 28, 2014 07:31 PM
Anita Clark
Coldwell Banker Access Realty ~ 478.960.8055 - Warner Robins, GA
Realtor - Homes for Sale in Warner Robins GA

Joe: If there are less consumers, it just means we need to do a little more to find them...weather should never be an excuse.

Jan 28, 2014 07:35 PM
Maria Gilda Racelis
Home Buyers Realty, LLC-Manchester, Bolton. Vernon,Ellington - Manchester, CT
Home Ownership is w/in Reach. We Make it Happen!

Hi George: There are people looking to buy despite the "frigid" weather. My buyers and I had been out. But today, I have an excuse not to be out. Got a severe cold and my dogs too. However, I am working on something else. This is what I call sublimation. Directing my time to another task or project.

Jan 28, 2014 08:09 PM
Randy Mitchelson,APR
Marketing Advisor & Squeeze Mortgage - Bonita Springs, FL
First Impressions are made at First Click

The weather seems to be affecting customer service and call centers too. Tried three times to contact Chase Mortgage yesterday and was disconnected all three times before reaching a human.

Jan 28, 2014 10:11 PM
ReadySetLoan Team
ReadySetLoan Condo Team LLC - South Windsor, CT
Residential, Commercial & Condo Financing Experts

I don't think that December was any colder than typical Decembers.  January is certainly one of the coldest in recent years.  I guess we'll have to wait until the numbers come out for January.  I get the feeling that this is more propaganda to support the religion of global warming...ahem, climate change.  Look out for the Polar Vortex...it's coming right for us!!

Jan 28, 2014 10:46 PM
Wayne Johnson
Coldwell Banker D'Ann Harper REALTORS® - San Antonio, TX
San Antonio REALTOR, San Antonio Homes For Sale

George-Weather does slow down viewings here. But it's temporary and picks up with the weather becomes more tolerable.

Jan 29, 2014 12:18 AM
Carla Muss-Jacobs, RETIRED
RETIRED / State License is Inactive - Portland, OR

Reminds me of a favorite Jazz song "Up Jumped Spring"

Two words: just wait!  

Jan 29, 2014 04:56 AM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

George, that does sound like a very high percentage, especially since winter can be dicey every year!

Jan 29, 2014 09:09 AM
John Anello, Stamford Area Electrician
Safe and Sound Electric LLC - Greenwich, CT
Call Safe and Sound Electric at 203-536-0021

The weather affects a lot of different businesses. As an electrician, I am very busy because the extreme changes in temperature cause electrical connections to fail.  

Jan 29, 2014 09:33 AM
Silvia Dukes PA, Broker Associate, CRS, CIPS, SRES
Tropic Shores Realty - Ich spreche Deutsch! - Spring Hill, FL
Florida Waterfront and Country Club Living

George, all I know is that we have a lot of people down here looking for homes cot get away from the cold weather at home.

Jan 29, 2014 09:59 AM
Ralph Gorgoglione
Metro Life Homes - Palm Springs, CA
California and Hawaii Real Estate (310) 497-9407

You have a point there, George.  We have to adapt to what we can’t control, i this case, the weather.  In Southern California, we don’t have the severe cold weather conditions, but we do have extreme heat waves in the summer, so it would be the same principle.

Jan 29, 2014 10:18 AM
Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

George, Actually our company sales are up about 25% from December even with the cold weathe. Your theory may be right.

Jan 29, 2014 12:16 PM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

George... I'd like to know how they correlated weather with sales. Seems a bit of stretch to me.

Jan 30, 2014 08:22 PM