In our real estate market, fall might just be the best time to buy a home. There are four main reasons why that I wanted to share with you.
Many of you have asked me why fall is the best time to sell a home. You might hear Realtors say that any season is the best season to buy a home, but it really depends on the conditions out there. Is it a buyer's or seller's market? What properties are you looking at?
Our market is currently a seller's market because there is not enough inventory and there are not enough people who are qualified to buy a house. However, here are the top four reasons why fall might just be the best time to buy your house:
Our market is currently a seller's market because there is not enough inventory and there are not enough people who are qualified to buy a house. However, here are the top four reasons why fall might just be the best time to buy your house:
- Lower home prices. October is the best month to snag a deal when buying. That's not just a random guess; it's based on a Realty Tracks analysis of more than 32 million home sales over the past 15 years. On average, October buyers pay 2.6% below market value at the time of purchase.
- Less competition. Like a beach after Labor Day, the Realty market starts to clear out as the days turn crisp. After the summer when all the home buying frenzies out there are over, inventory levels get even lower than they already were. Most summer buyers have already found a home, meaning that fall buyers will have less competition on the market, too.
- The holidays are around the corner. Most home sellers are worn out after the summer selling season, but they're also caught between a real estate rock and a hard place because the holidays are bearing down on them if they want to settle in before then. Buyers who want to move in time to host Thanksgiving and put up the Christmas tree need to close now–use that window to your advantage like a savvy Realtor would.
- Year-end tax credits. Nobody wants to buy a house purely to make their accountant happy, but there is an incentive to closing a home at the end of the year. Come April 15th, you might be able to take some serious tax deductions like property taxes, closing costs, or mortgage insurance.“
Fall real estate is like the beach after Labor Day.
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If you have any more questions about buying a home this fall, give me a call or send me an email soon. I'd love to talk through your situation with you!
