While home sale prices don’t usually drop dramatically as summer turns into autumn, the final sale prices do take a significant and noticeable drip. According to NerdWallet.com and Realtor.com, home sale prices dropped from summer to fall an average of 2.96%, which equates to $8,300 on the median home.
HOME SALE PRICES ARE TYPICALLY LOWEST IN WINTER T IN WINTER
Many buyers are averse to the idea of buying a home in the colder months, but if you can hold off until January or February (generally not very active months in the housing market), homes can cost 8.45% less, on average, as compared to summertime. Of the 50 metro areas analyzed by NerdWallet.com, 29 had the lowest home sale prices in January, while 19 had the cheapest prices in February. “Sellers are often encouraged to wait until spring to list their homes,” according to an article on Nationwide, “and those who keep their properties on the market through fall and winter may be more willing to negotiate a deal.” But because of the reasons outlined above as to why buyers tend to prefer to shop and buy in spring and summer, they often miss out on the savings that could be theirs if they were to hold out until winter. As a buyer, you need to learn how to take advantage of lower prices in fall and winter!
FIRST-TIME BUYERS
You have a particular advantage if you’re a first-time home buyer,
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