Better Time to Buy a House

When is it better to buy a house?

From spring until the end of summer, home sales are more active than in the fall and winter months. Just looking at the data from our home town of Gig Harbor the number of sales between April and September of 2015 were 60% higher than the rest of the year. This means that between October and March there is less competition for available homes. Less competition means less stress and an easier time closing on the house that fits your family’s needs.

Home Sales for Gig Harbor 2015

Why is the summer time so busy in Real Estate?

It could be the good weather, rental leases are up, but probably the number one reason is people getting prepared for the next school year. Many people cite their reason for their home purchase is to get into their preferred school. In Gig Harbor we have many great options for schools which makes our community especially busy in the summer time.

 

Why should I be looking at purchasing homes in the fall and winter months?

When the market cools down there is less competition for homes. This is great for buyers who are worn out from looking at homes in the summer time that disappear as quickly as they appear. In my own house search, my wife and I became increasingly frustrated with the constant multiple-buyer situations we encountered while looking for a home in the summer time. When there are multiple bids on a house, the buyers will often drive up their price to get the home. This process still happens in the winter time, but not quite as often. We eventually found a home that fit our family’s needs at the price we wanted in January.

It is September now and the end of the summer frenzy. If you are planning on purchasing your home within the next year, and are planning on financing your purchase, begin with us to get pre-approved and ready to purchase. Purchasing a home can be a stressful time, reduce your stress and do not postpone until April.