Have Seasonal Housing Market Trends Returned?

This article was first published on NerdWallet.com.

Three years after the pandemic first upended the traditional homebuying season — and life as we knew it — some data indicates a return to seasonal housing fluctuations.

Most people have heard of “homebuying season,” even if they’re unclear on when that season actually occurs. Generally, it refers to the period of higher prices, sales volume and more homes on the market in the warmer months. This “season” is only part of the flows that happen during a year in the housing market.

Home prices, sales and listings usually follow a somewhat predictable pattern, rising and falling during certain months. But since the COVID-19 pandemic and resulting economic turbulence upended those patterns beginning in 2020, we’ve been waiting for their return. Some data indicates we’re getting closer to that normal.

But first, a note on what remains different:

Home prices climbed swiftly in the months after pandemic lockdowns, and while that growth has leveled off and prices may even come down in some markets, there’s no expectation that we’ll return to pre-pandemic prices. Nor can buyers expect a return to ultra-low mortgage rates. Barring slight fluctuations, higher rates are here to stay, and as...