When it comes to buying a home, timing can play a major role when it comes to a broader market and economic factors.
Taking the seasons into play, it is known that in the wintertime, the housing market tends to cool down, so inventory and demand are low. Following winter, springtime is when more houses start to go on the market again.
Summer is when the hustle and bustle of home buying tend to start. People tend to have more open schedules and the good weather contributes to the approach in home buying. There will be high inventory but also high competition. Likely, your favorite options may not exist the next day.
Therefore, fall is typically the best time to buy a home. While others may have participated in the summer craziness of the real estate market, there will still be several properties on the market. This often leads sellers to drop their prices after the summer if their home is still up for grabs. Along with this, it is often easier to make negotiations with sellers who are eager to sell. Lastly, there will be more moving service availability in the fall after the summer rush. So, you can easily plan your smooth transition.
Mortgages are made easy with Bridge! With fall right around the corner, Bridge is here to guide you through the entire process. Explore our wide variety of products with excellent rates and have an exciting, hassle-free experience. Get started today! https://www.bridgecu.org/mortgages/
Source: https://time.com/nextadvisor/mortgages/best-time-to-buy-a-home/
