Life circumstances often determine when you’ll buy a house, but if you have a choice, timing your purchase can be beneficial. The housing market fluctuates throughout the year, so it’s important to understand what to expect in each season.
Spring
- Spring is the traditional home-buying season, with the market picking up as the weather improves.
- The busy season can start as early as February in some markets.
- Realtor.com’s research indicates that mid-April is the best time for sellers to list their homes, specifically the week of April 13-19.
- This period sees higher-than-average buyer demand and listing prices, and homes tend to sell faster.
- Spring and summer generally have the highest home prices.
- April is the most expensive month to buy a home.
Summer
- The inventory of houses for sale is at its peak during the summer.
- However, there is also more competition from buyers, particularly parents aiming to move before the new school year begins.
- Extreme heat in some regions can make the physical process of moving more challenging.
Fall
- Early fall typically has a good number of listings with slower buyer demand, which can lead to slightly lower prices.
- In 2024, Realtor.com stated the best time to buy was the end of September or beginning of October, specifically the week of September 29th through October 5th.
Winter
- Winter has less competition among house hunters because fewer buyers are in the market.
- Although inventory is low, sellers may be more motivated to offer a discount.
- Bidding wars are less likely during this season.
- The number of homes for sale decreases the closer you get to the end of the year.
- Harsh weather and the holidays can also make buying a house more difficult during this time.
- Median listing prices are often lowest at the beginning and end of the year.
What is the overall best time to buy a house?
Ultimately, the best time to buy a house is when you are financially prepared. This includes having your finances in order, a sufficient down payment, and a mortgage payment that fits your budget based on current interest rates.
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Sal Trapani Mortgage Banker & Owner, MJ Mortgage LLC NMLS 1055510 / NMLS 2381195 (281) 608-2846 sal@mjmortgagellc.com www.mjmortgagellc.com 33130 Magnolia Cir, Magnolia, TX 77354
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