In most areas, the market slows slightly as August approaches. Traditionally, the end of August gives you a great opportunity to find deals, because sellers. Traditionally, the end of August is a great opportunity to find deals, as sellers lower prices even more. Don't abandon homes that have languished on the market during the spring and summer sales seasons.
There are numerous reasons why a home may not have been sold. It may be that a buyer has withdrawn. In any case, a home that has been on the market for an extended period of time can end up being a great find. General historical data shows that the best month to buy a home is August or September.
It is useful to analyze the real estate cycle as a whole to understand why. The real estate market is usually quite slow in winter. Because of the cold and freezing weather, homeowners often wait until spring to prepare their homes for sale. Shoppers aren't inspired to attend open days during hibernation, either.
When it comes to prices, the best months to buy a home are August, September, October, November and December. The best day to buy a home is December 26th, since almost no one wants to buy during the holidays, so you'll see the biggest price reductions the day after Christmas. Once you have a better idea of your spending habits, determine how much you want to spend on a monthly home payment. This figure includes principal payments, interest, taxes and insurance, which add up to the monthly amount of your mortgage.
If August and September are the best months to buy a home, then, in theory, the best season to buy a home is in late summer. Fall may be a good time to pull the trigger when buying a home, as prices start to fall due to the popularity of summer and there is more home inventory than in the coming winter months.
