If you want the most options and the least competition, the first week of fall is a great time to buy a home.
As Miabelle Salzano reports at Mansion Global:
In general, buyers face 26% less competition across all markets while inventory increases by 6.1% during the first week of fall, compared to the average week of the year. These effects are most notable in the West, where buyers see 29.6% less competition, followed by the Midwest (28.5%), the Northeast (28.2%) and the South (26.2%).
Why? Well… school’s back in session and a lot of people’s lives are getting busier. This means that homeowners who might have listed their homes earlier this summer are now ready to make a deal. Plus, families whose kids are back in school don’t often want to add “moving house” and “changing school districts” to their to-do lists—so your offer might be the only one on the table.
This real estate strategy comes from new data released by Realtor.com, and previous data confirms that fall is a great time to buy a house—not just because of the high inventory/low competition factor, but also because this is when sellers start to drop their asking price. Put it all together, and you could find yourself with a great deal on your dream home.
If next week is a little too soon for you to jump into homeownership, don’t worry; October is also a great month to start browsing listings and making offers. As HSH.com reminds us, fall is when sellers start wondering if they’ll be able to finalize their sale before the end of the tax year, so use that to your advantage. Plus, if you time it right, you could do the actual moving while the weather is neither too hot nor too cold.