Word is, if one does a little research online about buying a home, spring and summer are hot times of the year for the real estate market. Those who wait until the fall season to buy a home, however, could have some luck finding that house for which they’ve been searching.
Why fall? Those who study the market believe that during the less-than-peak season, homes will be slightly less in demand, leaving the buyers with time on their side and more room to negotiate. Summer is the ideal moving season for many people since children are out of school and weather is ideal, so waiting until the market AND the weather cool down can be beneficial to potential buyers. Just like shopping for anything, sometimes the best deal comes along when everyone else isn’t shopping for it, too.
Housingwire.com provides some statistics on why the advantage is on the buyer’s side in 2014, especially. Simply put, three reasons now is the best time to buy a home are:
1. Mortgage rates are at six-month lows.
2. Home price growth is slowing.
3. Most housing markets have recovered.
For those potential buyers who are on the fence, this could be the season to seize that house shopping opportunity and get into your new home for the holidays.