We all love a good deal. There’s a reason why people always Google “best days for plane tickets” when they’re getting ready to travel, so why don’t more people realize there’s the best time of year to buy a home, too?
Why Does Timing Matter?
Although the prices of homes may seem random, they fluctuate around the same amounts at the same times every year. This is mostly because of our society’s schedules, from holidays to school: even tax season.
The timing of when you buy your home could change how many homes are available, how many other people are desperately shopping for them, and what prices you can get these properties at.
Buying in Spring
Spring is the worst time to buy a home. There are countless reasons for this, but the main one is that so many people see the new year as a reason to kick their life plans into motion and look for a home. In addition, tax season is during this time, meaning people who get money back from the government this time of year are quickly hitting the market with it to try and make their dreams of homeownership come true.
Prices are higher, competition is fiercer, and you’re at increased risk of jumping on a property you don’t even want so that you can follow through with the steps to buy a house before someone else can.
Buying in Summer
Buying a home in the summer can give you mixed results. More buyers are on the market, wanting to settle in before their kids start school, or as recent college graduates wanting to set in roots. Unfortunately, that means more competition.
Families often have more time to look in the summer as well, since kids are out of school and parents are more likely to take vacation time: which means more people will be looking at homes besides you.
It’s a good idea to wait until school is back in session.
Buying in Fall
Fall may be the best time of the year to buy a home out there. Four of the six top buyers’ dates, according to Attom, all fall within autumn, meaning that you can get lower prices and less competition.
Families are absorbed into paying for their kids’ tuition or ensuring that school is going smoothly, and others are already thinking about the expenses of the holidays. This means you can swoop in with less competition and get a home you love at a price you can afford.
Buying in the Winter
The single best day to buy a home is December 26th. This is because far fewer people are on the market during Christmas, and buyers are eager to get out from under the house before getting too deep into another year of taxes.
The other incredibly popular day in winter is December 29th, right before New Year’s, for the same reasons. Not only can you often get a home for a lower price, but your competition is lower as well.
