Best Time To Buy A House

Similar to car buying, or any other large investment, everyone has a different idea as to how to time the purchase perfectly so as to get the best deal available; buying real estate is no different. Statistically speaking, however, there are better times than others to purchase your home.

If you time your home buying just right, you could be looking at much lower competition in a typically competitive market; this means sellers can be more motivated to sell and you can reap the rewards in home savings.

In this article, we’ll discuss the best time to buy a house and how you can score the best deal.

Best Seasons for Home Buying

Research shows that the late summer and early all months are the best time to shop for and buy a home. This is due to the fact that most shoppers will be out looking in the spring and early summer time frames. In fact, you may find the deal of a lifetime if you look to purchase a home right before school starts; during this time, sellers get more hurried to make the sale before buyers settle down for the winter and the market slows down. This is a great time to score some deep discounts and really get more bang for your buck.

Best Days for Home Buying

While there are certainly defined seasons that are best for purchasing a home, there are also certain days that have proven to be the best time to seal the deal: Easter Sunday and Christmas Day. Holidays, you ask? Yep! On these days, you’ll have much less competition than normal because buyers simply aren’t out looking while they’re celebrating the holidays or out of town. Many buyers have reported making and having their offer accepted the same day they walk in for the open house simply because the seller is motivated and there isn’t much in the way of competition.

Best Months for Home Buying

Overall, December is shown to be the best month for home purchasing. In fact, the lowest prices of the year are found during this month, which means you can score a really great deal. You also will experience a lot less competition with other buyers during this time and sellers are often extra motivated to sell during this time due to the market being so inactive.

Worst Time for Home Buying

Overall, June is the worst month to buy in, but make it a point to hold off on shopping in the spring and early summer months as a whole. Homes are listed and sell the fastest during this time, which leaves very little room for a buyer to consider any options or negotiate for better pricing due to competition. Often, buyers will end up paying more for a home than typical during this time; better deals can definitely be snagged in the later months, particularly December. You’ll also want to avoid trying to make your purchase in the middle of the week as history shows this is when buyers are paying higher premiums and facing steeper competition.

Note that the trends mentioned above can vary pretty greatly depending on the area you are living in. Climates, population, amenities, and location have a lot to do with competition and sales on homes. Your best bet is to get a good realtor on board with you in your search so they can help you find and secure the best deals. A realtor with experience should be able to help you navigate most market situations and find the home you’re looking for at the price you can afford.