homes; b) rising home prices; and c) higher mortgage rates, according to a recent article by Bankrate. Home sales fell to their slowest pace in two years this past summer, according to NAR. But this wasn’t because the market was slowing down; rather, sales fell because buyers simply couldn’t find the right home for them — a home that would meet their needs yet fall within their price range. But as fall ends and we head into winter and cooler weather, the market will likely shift, giving buyers a leg up going forward. In fact, here’s a little insider secret for you in your quest to find a home that meets your needs and that you can afford: Fall and winter are the best seasons and times to buy a home!
FOCUS ON FALL AND WINTER, NOT SPRING AND SUMMER
Does this surprise you? Plenty of people have heard that spring is the buying season in real estate. The housing market often appears to be booming in spring and summer, and many buyers think that spring is the best time to look for homes. One of the reasons that it’s a big real estate season, according to Julie Haley, Realtor® and owner of Property Source Pros, is that “many residential buyers, particularly first-time homeowners, use their tax refunds to assist them with the costs and down payments required to buy properties.” Another reason that buyers prefer to shop in warmer months is that they prefer to move into their newly purchased home before the end of summer if they have school-aged children, so as not to disrupt the school year. What about buyers who don’t have children in school? Often their leases expire in the summer, because that’s the season when they moved into their current
34
Powered by FlippingBook