As July kicks summer into full swing, traveling to different locations may get your mind racing about moving. Seasonal housing purchase trends are a real thing and can be very interesting to look at and dissect. Summer sale trends can be very informative regarding whether or not you should consider investing in a house during the warmer months. If you’re wondering when is the right time to buy a home, here are a few tips for you.
Seasonal Trends
Looking at monthly sale trends reveals what the market will be like when you’re submitting an offer on the home of your dreams. While there is no right and wrong time to buy a home, these trends will give you a good idea of what you’ll be up against during your hunt, and what you may need to do to have your offer accepted.
Early Summer
Not only does the temperature heat up in the summer, but so does the competition to buy homes. It’s common for “moving mania” to increase once school gets out in June, so shoppers will find a greater selection of homes available but will also be met with more buyers presenting competitive offers. If you can make swift decisions and deal with a hectic process, you’ll also enjoy the advantage of being able to sell your home more quickly during this time and make the transition to a new neighborhood easier.
Late Summer
During the month of August, the market begins its gradual decline into the holidays so a lot of the craziness subsides. During late summer, homebuyers should be very serious when it comes to purchasing a house and put down a very strong offer. Low-ball offers might not make the cut as the inventory begins to shrink. On occasion, you can find really good deals on homes not purchased during the early months of summer as sellers may get desperate, but you need to act quickly.
Winter
Typically, as the seasons cool down the urge for potential homebuyers to purchase declines. This can be explained away mainly due to the holiday seasons with Halloween, Thanksgiving, and Christmas all within a three-month span. Inventory shrinks as homeowners don’t want to be in the midst of cleaning, packing, and staging their homes during the holidays. Buyers tend to not house hunt when they’re busy focusing on family and celebrations, so house prices tend to dip lower. Also, the homes’ days on the market are prone to being longer. Some sellers may even repeatedly lower the asking prices during these months.
So when is the right time to buy a home?
Regardless of these trends, the best time for you to buy a home is when you and your finances are ready for the responsibility. Or, you might come across the home of your dreams when you least expect it, and if financially feasible, there should be no reason to wait for another season.
Your best course of action is to contact an experienced Real Estate Agent. Gail Schoeneberg has decades of experience and will work directly with you to understand your needs and help you achieve your goals. Regardless of the time of year, give Gail a call at 541-840-1909. She’ll help you make the best decisions for you and your family.
