Currently, the housing market is in the favor of the seller, meaning it’s more competitive than ever for buyers to purchase a home.
However, there’s good news for people shopping for a new address — April and August can be ideal times to purchase a house.
“In every real estate market, there’s always a best month to buy a house or best season to buy — even in a down market,” online real estate marketplace company Zillow said.
In the majority of the U.S., the spring and summer months are the peak seasons for real estate, according to Buckhead Home Loans.
Zillow reported that April can be an ideal time to buy a home due to the most listings being available.
Further, HouseLogic, a resource from the National Association of Realtors, reported that April to June is the spring homebuying season. This time is when housing supply and in-the-market homebuyers reach their height.
“Because most families want to move when the kids are out of school, there’s a big incentive to buy a house this time of year, since many homebuyers need to allow 30 to 60 days for closing,” the website reported of typical school years. “The warmer weather also makes open houses more enjoyable, landscaping easier to evaluate, and inspections more comprehensive.”
But the good times to buy don’t end when children resume classes in August.
In fact, Zillow reported that August also has its advantages as it “has the most price cuts, while inventory levels are still healthy.”
Sellers usually cut prices further in late August as the market starts to slow down, RocketMortgage reported. Traditionally, that means buyers get a solid chance to find good deals.
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