There’s no denying that June, July, and August are hot months for home buying. Summertime is a popular time to move and that means you can expect high prices and bidding wars when you’re shopping for a home. Come September, most people looking to move have already made their purchase, so there will be fewer people competing with you for the same homes. But if you’re looking for the best month, you might want to consider September.
Buying a home is one of the most important financial and life decisions someone can make in their lifetime. Whether it’s a vacation home for part of the year or a couple’s first home to begin starting a family, it’s best to buy a home under the right circumstances with as much information as possible in front of the buyer. As with any major industry, real estate prices tend to fluctuate throughout different times of the year, which can substantially affect a buyer’s and seller’s real estate experiences.
Due to the varying states of the real estate market, having a baseline concept of what times of the year are the most optimal for purchasing a home is a great place to begin when making those first steps. Most buyers don’t feel inspired to attend open houses during hibernation!
The real estate market begins to buzz with activity in the spring and early summer. Homes are listed for sale, demand sky rockets and prices increase. Patient home buyers often find a sweet spot in the late summer, when prices finally start to come back down. Those who wait until the fall or winter to see if prices continue to drop might run into a problem when there isn’t much inventory left and the cycle tends to repeat.
As time inches past the start of the school year, towards the holidays, and the end of the tax year, desperation begins to set in. When you make an offer, you’ll have the upper hand during the negotiation process. Think of it as an early Christmas preset to yourself. Happy hunting!