FALL MAY BE A GOOD TIME TO BUY

The market fluctuates from city to city, but did you know that the season impacts the market as well? On average, people move or relocate more during the summer to wait for the school year to be over. On the contrary, too winter where people tend to move less due to the holidays. For these and other reasons, fall 2021 could be a great time to buy a house.

LISTINGS TO CHOOSE FROM:

At the beginning of the year, we saw historically low-interest rates and an increase in buyer demand. While inventory remains low, according to Realtor.com's research, we may see a slight increase in the number of homes for sale due to the typical seasonal pattern. Zillow, on the other hand, states that sellers are holding off to sell their properties.

LESS COMPETITION:

Supply shortages may not be as awful as you may think. Studies show a supply growth could ease the competition and make sellers more motivated to sell during the fall, and with fewer people buying during fall and winter, less competition.

Tax consequences could also motivate a seller, as they may want to gain or lose during the tax year, giving the buyer the slight upper hand during that time of the year.

PRICE CUT:

Zillow also reported listings sitting for weeks or months on the market due to fewer buyers around fall and winter. Sellers at this time get desperate and typically start to see price cuts.

MORTGAGE RATES:

Interest rates have been at or near a record low, but that may not last as long. We are starting to see a slight change in those numbers, but remember, a lower mortgage rate equates to a smaller mortgage payment and a bigger home buying budget.

Between the fall and winter trends and supply-demand, everything seems to be slowing down, making this a thin opportunity for a buyer to make a move during a hot market. So is this the best time for you to buy?