People love autumn for many reasons. For buying homes? Not so much. But this doesn’t mean autumn doesn’t have its own distinct benefits if you’re in the market for a new home.
Crunch time has arrived.
For homeowners whose property is still on the market after summer, nervousness is likely settling in—their house still hasn’t sold, and the holidays are approaching—so they might be motivated to negotiate, sell, and settle before the holidays hit.
Looking for a home in peak buying seasons can be a war of attrition. Warm-weather home buyers are like shoppers who fight crowds to pay full price for the holiday’s must-have gift. By home shopping in autumn, you’ll be like the shopper who gets the same gift—without the competitive stress.
Better values abound.
A RealtyTrac study found that October is the best month of the year to find home-buying bargains, with a 2.6 percent discount on market value. And a recent Trulia study determined that fall is even more advantageous for first-time home buyers because of the availability of starter homes peak in autumn.
Your real estate agent likely has much more client activity during the spring and summer, so come fall, he or she will have more time to focus more on you and your home-buying needs.