Is there a perfect time to buy a house?
As a licensed seller of real estate in New York State for over a decade, I have often been asked if there is the best time to buy a home. However, while this differs, from individual to individual, the short answer is, it depends! It depends on the local market, one’s needs, goals and priorities, availability, personal finances and, if one locates, what they consider to be their dream home. Many, there is something magical about Spring Market, probably because, traditionally, most houses have been sold during this period, but the reality is that houses are sold throughout the year.
1. Spring market: Traditionally, this period has been the period of greatest real estate action, and activity, probably for many reasons. One is, in most regions, while the weather in winter is doubtful, and in the heart of summer, there are a lot of family vacations, and the heat is sometimes offensive, etc., and autumn / fall, back to school, etc., spring buyers can move into their homes in the summer, prepare with calm for school transfers, etc. However, during this period, sellers will have the most competition (number of other homes, listed, on the market), and buyers will also find competition in most economies. However, it is important to realize that sometimes we are witnessing a buyers market, other times the sellers have the upper hand, and sometimes it is more balanced and equal. Know what market is taking place.
two. Summer market: Those homes, listed in the spring, that for some reason don’t sell, often stay on the market through the summer, and we often see these homes being offered at lower prices (known as price adjustments). While often fewer houses are listed during the heart of the market, many more have been coming in recent years due to the prolonged Sellers Market and the belief that there may be an opportunity. Fewer homebuyers are looking when it’s hot and more are on vacation, but we often recognize that those buyers, who keep looking, are often more serious, etc.
3. Autumn Market: While traditionally this period was often slower, in recent years, after the Labor Day period and the Jewish holidays, we have witnessed a much more active market. In today’s world, people move, when it’s right, for them!
Four. Winter market: There are usually both fewer sellers and fewer buyers, but that, buying and selling, is usually very serious, and, therefore, we often see houses listed, at more realistic prices, from the beginning, and, although, less ( in number) buyers might be looking, those who are, are generally looking to buy, rather than just look!
Spring, summer, fall or winter, when is the best time to buy or sell? In today’s real estate world, the answer is when the combination of needs, priorities and financial preparation are key factors.