Andi Dyer

Let me help you find your future home

  • About
  • Contact Page
  • Refer a Friend
  • News
You are here: Home / Buying a Home / When is the Best Time of Year to Buy a House?

When is the Best Time of Year to Buy a House?

October 11, 2016 By Andi Leave a Comment

Real estate prices and inventory rise and fall with the seasons. If you’ve decided to buy a house rather than build one, you’ll want to strategically time your purchase to avoid the seasonal flood of homebuyers who could price you out of your dream home with a bidding war.

We talked with a group of real estate experts about the best times of year to purchase a home. Here’s what we found out.

 

ON THE WEST COAST AND IN SOUTHERN STATES

Just like in the Midwest and East Coast, the winter months are a great time to buy a house on the West Coast and in the South.

“After being in the business for 14 years, I have come to the conclusion that the fall and winter time is the best time to purchase a home,” said Tracey Hampson, a realtor in Santa Clarita, Calif. She added that, “We still have sunny days through the fall and winter time so it’s easy to view homes. There is also no battling the cold weather while looking for a home.”

While housing inventory usually drops significantly in the Midwest and East Coast during the winter, it can stay fairly high in these parts of the country.

“There isn’t as much inventory as the spring and summer, but there’s enough that the homebuyer has a choice,” said Hampson. “With the lower, but still healthy inventory, buyers do get a better list price on homes because sellers realize there aren’t as many buyers this time of year.”

Even though the dip in inventory is slight, it’s still enough to motivate sellers to flex on their prices. “They take every offer more seriously and are far more willing to negotiate,” said Hampson. “So, during the fall and winter time, you have buyers and sellers who are more serious and focused regarding the home-buying and selling process.”

THE BEST OVERALL TIME TO BUY

The quietest time of year in the real estate market is mid-fall through mid-winter. The four slowest months of the year in real estate are November through February, accounting for 27 percent of home purchases in the average year, reported HousingWire.com. The four busiest months of the year – May through August – account for 40 percent of annual home sales.

Some real estate agents argue it’s better to buy a new home in the spring and summer when inventory is high, but there are benefits to waiting until the market dies down.

“Inventory may lower, but there are so many fewer people house shopping that buyers can negotiate lower prices,” said Brian Davis of Spark Rental. “In other words, even though supply drops in the fall and winter months, demand drops even more.”

According to Davis, summer tends to be a more popular time to buy. Families prefer to move when kids are out of school, but you might end up paying a higher price for making things logistically easier.

“It should be no surprise that no one wants to buy a new home during the holidays,” said Davis. “Most people instinctively start nesting as the weather cools and turn inward to hunker down with their families. Parents focus on holiday shopping and plans, and prepare for winter ‘hibernation.'”

This is the perfect time for buyers to strike, said Davis. “Sellers often want to close the old chapter of their lives before the year ends, both for tax and psychological reasons. Sellers are generally more amenable to lowball offers if buyers can settle quickly before the end of the year.”

Not only can you negotiate a lower price on your next home, but Davis says you can find other savings, too.

“Service personnel are also more eager in the leaner winter months. Realtors and mortgage brokers are paid on commission, so they will bend further to make each deal happen during their slow season,” he said. “They’ll also have more time to focus on each deal.”

Filed Under: Buying a Home Tagged With: best time of year, Buy a house, real estate, sell a house

About Andi

World-wide traveler. Excellent shot. Lover of Cairn Terriers (specifically Shaymus). Vegetarian. Enthusiastic, yet amateur beer brewer. Licensed, independent Real Estate Broker and Designated Broker for Sterling Real Estate. I have the inside knowledge of the 'diamonds in the rough' hiding throughout Whatcom County. Want to learn more? Contact me at AndiDyer@gmail.com

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Recent Posts

  • The 7 Worst Habits Homeowners Need to Break Now
  • What You Need to Know About Researching Home Prices
  • Home Upkeep Tips for People With Better Things to Do Than Chores
  • Filing Taxes After Divorce: Tips for Homeowners
  • 7 Cleaning Tips for Keeping Your Home Spotless When Selling It

Testimonials from Happy Homeowners

Andi is a very motivated and talented professional who considers all aspects of any project before quickly moving forward with precise action.
~ Teresa

Andi quickly discovered our parameters and made sure we didn't waste time looking at properties we wouldn't be interested in and stay within our budget.
~ Trulia Reviewer

Andi has a keen instinct for smart marketing and is very responsible to her clients. She is a committed Real Estate broker and has a very sunny disposition. No matter what your needs are, be it finding a home or selling your current real property, her years of experience in the field are a huge asset!
~ T.W.

It has been a pleasure working with Andi. She always has a smile and a positive attitude. She put a lot of time and effort into selling my house and I couldn't have happier with anyone else.
~J.M.

Selling a house is STRESSFUL. There are so many things to do and so many cracks to slip into. Thanks to Andi, there were no cracks with her timely checklists; she showed me that selling doesn’t have to be so stressful. A good selling experience is possible! She is the broker to keep in your back pocket.
~ Rose W.

Andi was always on our side working to make our house purchase as simple and successful as possible. The best part about working with her was that she was always more focused on answering our questions, giving us good advice, and finding homes that met our needs than she was on closing a deal. All throughout the negotiations and closing she was there quickly handling any issues that may have risen. We would recommend her to anyone. If the time ever comes when I will be looking for a new home, there isn't any question on who my Realtor will be!
~Zillow Reviewer

About Andi

World-wide traveler. Excellent shot. Lover of Cairn Terriers (specifically Shaymus). Vegetarian. Enthusiastic, yet amateur beer brewer. Licensed, independent Real Estate Broker and Designated Broker for Sterling Real Estate. I have the inside knowledge of the 'diamonds in the rough' hiding throughout Whatcom County. Want to learn more? Contact me at AndiDyer@gmail.com Read More…

  • Email
  • Facebook
  • LinkedIn
  • Pinterest

I can help you find your dream home.

I am located in two offices to support my Whatcom clients. Come visit me soon.

Office Locations

Downtown Bellingham Office
2011 Young Street, Suite 101
Bellingham, WA 98225

See Location

Ferndale Office
1820 Main Street
Ferndale, WA 98248

See Location

Sterling Logo   Realtor logo   Sterling Logo       Sterling Logo

Copyright © 2021 · Log in