THE BEST TIME OF YEAR TO BUY A HOME
Spring? Summer? Fall? Winter?
When's the best season to buy a home? Is it Spring? Summer? Fall? Winter?
The best season to buy a home is when the season is right for YOU personally.
But, there are ways you can be tactical about your home shopping.
Let's break it down by seasons:
Spring season comes from the WINTER when home prices are at the lowest of the year and inventory is at the lowest of the year. Spring time inventory picks up and so do the buyers. They want to be settled before school, before summer, etc. It's also the time when the home price SPIKES are the highest (as you can see from the chart below).
So, if you're going to be buying in Spring, you may face some competition.
But, don't let this scare you away. If it's the right time for you, work with your realtor to come up with the proper strategy to get you in the door.
Alright, summer is a great time to buy, in my opinion. Home prices start to flatten out and inventory starts to rise.
This past year, our inventory has actually DOUBLED since March!
More buyers are taking vacations and more sellers are trying to take advantage of the aggressive pricing from Spring.
So, in the summer, you'll have more choices and less competition.
If you're patient and fall works for you, it's another great time to buy. This is when buyers start to fade away, inventory starts to drop, and buyers out in the market get more leverage.
You're either coming across sellers that have stale listings from the summer time (old listings) and they need to sell, or sellers that need to sell for personal reasons.
If Fall works for you, it's a great time, as you'll have more leverage than you would in Spring/Summer.
Alright, winter time. Practically, when no one is thinking about buying, selling, or moving for that matter.
But, should you?
Same thing with fall - sellers are selling because they NEED to, not because they're trying to optimize their sales price. This means you have more leverage.
In the winter, you'll have less competition, but less to choose from. But, you'll have the most leverage.
Winter is when the sales prices are the LOWEST, inventory is the LOWEST, but your leverage is the HIGHEST.
If you're looking for a "deal," then winter could be good.