Is There a “Best Time” to Buy a House?

When you’re on the hunt to buy a home, chances are you are eager to make your move and get settled, but does the timing matter? According to Credible.com, it is helpful to consider the timing of your purchase before taking the first steps. The season, month, and even day of the week can influence the inventory in your area.

Experts say that late summer and early fall are generally the best time to buy a house, and the best time of year isn’t always when prices are at rock bottom. There are pros and cons to buying during each season, depending on what’s important to you. If you prefer lots of options, consider spring, however, if you are more concerned about negotiating power, winter is your season. If you want the all-around best time – you guessed it, September is your month! Why is that? Well, inventory is typically plentiful, competition has cooled off, and sellers who are desperate to close may be willing to cut a deal. Also, because there are fewer buyers on the market, the whole process may be quicker, from the inspection to the underwriting process and closing.

Want to know the best day of the year to buy a house? Read more from Credible.com by clicking here.


Reference:

Porter, K. (2020, July 30). Best Time to Buy a Home. Retrieved September 10, 2020, from https://www.credible.com/blog/mortgages/best-time-to-buy/