There are many arguments made about when the best time of the year is to buy a house. If you ask a real estate agent when the best time to buy a house is, their answer will almost always be “right now!” The price of a house is somewhat dependent upon where you live. Warmer climates tend to see less fluctuation in market prices where locations that have diverse environments may have more significant changes. Taking your location into account, there are still times during the year that have better market prices than others.
During the spring months is when you will see the most amount of houses up for sale. This, unfortunately, also means that it is the most expensive time of year to buy a house. Once those “For Sale” signs start getting posted on lawns, the market begins buzzing, and real estate agents have the advantage over the eager buyers. There is an advantage to shopping for a house in the spring. The spring buzz brings along with it the most substantial number of homes to choose from. You will not have the same amount of options in the spring than any other time of year. If your dream home is up for sale in the spring, it may be worth it to consider buying this time of year. But be careful, there is strict competition in the market at this time, and you may have to act quickly!
Some people will argue that the best time to buy a house is in the winter. November, December, and January are the months you will see the lowest prices on the market. Sellers who did not successfully sell their homes during the spring and summer months are looking to sell quickly. You may see many homes with significantly reduced prices in order to attract buyers and avoid having to try and sell again in the spring and summer. Although prices will be lower, home buying options will be lower as well. Not many people are looking to sell in the winter months because of the upcoming holiday season and other events happening around that time.
Another factor to consider is what the current interest rates are. Interest rates will fluctuate, and you do not want to wait too long to purchase your dream home if it is the right time.