When is the best time to buy a home?
Just as in selling a home, the answer to this question all comes down to supply and demand. As far as our buyers are concerned, they typically want the most amount of homes to see and they want to be able to bid the lowest amount possible when it comes to negotiation.
Throughout the course of the year, we usually see inventory levels rise from January to December. It usually starts at the bottom in January, then ratchets up during the summer and fall months. During fall, the number of sales is usually inversely proportional to the number of listings. The later months of the year, then, tend to be the ones with the lowest amount of sales but the highest available inventory.
It all comes down to supply and demand.
We’re seeing the same trend happening again this year. Inventory levels are building as we speak. In January, the number of sales that take place almost double by the time we reach spring. That number usually stays level over the course of the summer, but dips once September rolls around. It then continues to decrease in the following fall and winter months until hitting the bottom again in January.
So, if you’re thinking about purchasing a home, now is a great time to start that process.
If you have any more questions about buying a home, please feel free to give us a call or send us an email. We’d be happy to help you in any way we can.