Winter 2013/2014 in Middlesex County

To what extent does weather have an effect on winter sales activity? When does the spring market start? Some years if the winter is mild it seems like buyers start coming out of the woodwork in late January / February.

In New Jersey, this year's winter has been exceptionally harsh with very cold temperatures, a polar vortex and almost continuous snow cover. 

We took a look at sales activity and studied the number of properties where contracts to buy were signed. 

The results were eye opening. 

From 12/1/2013 to 2/28/2014 the Middlesex Multiple Listing Service reported 712 properties received offers to purchase. 

Comparing that to the same time period a year earlier, the figure was 845. 

This represents a 16% decline in the number of properties purchased. 

What's different? The weather for sure, and slightly higher mortgage rates. Its next to impossible to tell to what degree each had an influence on the decline but anecdotaly, it certainly seems that the temperatures have played a major role.

If its weather related, one would expect pent up demand to show itself in the form of an increase in the number of contracts signed in spring months vs. the same time period next year.