Families with school-aged children can benefit from a spring or summer purchase, while buyers looking to save big might
have more luck in a winter market. Understanding trends and the benefit of home hunting in every season will help you secure the home of your dreams.
Buying a Home in Spring
The real estate market trends hot in the spring. Homes can sell the same day they’re listed, and the potential for getting into a bidding war is higher. This means you might need to make a higher offer than the list price to secure your dream home.
Tips for Buying a Home in Spring:
- Be prepared to make competitive offers.
- Work with an expert real estate agent to help you negotiate strongly
- Don’t wait to make an offer on a home you love.
- Get pre-approved for a mortgage before you go home hunting.
- Create a wish list of what you need and want in your ideal home.
Buying a Home in Summer
The summer real estate market remains hot, but buyers can benefit from house hunting mid-June through August. Homes listed in the spring that haven’t sold by summer might start coming down in price. The summer is a great time to take on a fixer-upper at a lower cost, and it’s easier to check out those neighborhood vibes when the weather is nice and warm. Competition from other buyers tends to slow down as the summer comes to a close. A late summer purchase still leaves room for families to get settled in before the school year starts
Tips for Buying a Home in Spring:
- The market is still hot, so be prepared to make competitive offers.
- Get mortgage pre-approval paperwork ready to speed up the process.
- Don’t overlook fixer-uppers
- Research home improvement costs to identify DIY repairs.
- Get to know the housing market in the area you’re buying in.
Buying a Home in Fall
The housing market slows down in the fall, which means there’s less competition from other buyers. Colder weather and the start of the school year means there’s less supply and demand, but this can work in a buyer’s favor. With more time to search for
your dream home, it’s easier to get exactly what you want.
Tips for Buying a Home in Fall:
- Take your time searching for a home you’ll love.
- Find out why a seller is listing a home in the fall.
- Negotiate strongly. Fall sellers may be more flexible about price cuts and repairs.
- Visualize homes year-round or ask sellers for pictures from other
seasons.
Buying a Home in Winter
The real estate market trends downward in the winter months. With less supply and demand, there’s less competition from other buyers. This means you’re less likely to end up in a bidding war for that dream home you’ve been eyeing up.
The median sale price of homes drops by as much as 5% in the coldest months—a difference that can save buyers tens of thousands of dollars.
Tips for Buying a Home in WINTER:
- Lower home prices can tempt you to exceed your budget. Stick to your financial plan.
- Consult with a tax expert on the best time to close.
- Year-end closing may yield a tax break.
Less competition may allow you to negotiate repairs or a lower price after inspection.
