The opportune time to buy or sell a home is not carved in stone. There are three primary factors that will influence you as to when you should move forward with buying or selling a home.
Buyers and sellers can benefit from knowing what their local market activity is at any given time. I can help you with that. Since supply and demand of available properties dictate price and availability, our role is to provide you with the statistics to properly time listing or selecting your home.
As a buyer, you will want to house shop when there are a lot of homes on the market, but that may not always be possible. You will have not only many choices but also more opportunity to negotiate with anxious sellers.
Conversely, sellers will want to list their homes during times of shrinking inventory so they can attract more buyers and be tighter with their pricing.
The direction of trending interest rates will also be key in determining if you can buy more or less of a home than you like and when you should move forward with your search. During times of low rates, sellers can be rewarded with stronger pricing, knowing that more buyers will qualify to buy their homes.
The seasons and where you live play a part in any real estate market. While buying and selling during the late spring through early fall may seem to be the most logical time to enter the market, it doesn’t hold true across the board.
Wintertime markets can even cause attraction in zones with better buying options. However, sellers should always give consideration to listing during these perceived slow market times because their competition will be far less and there will always be a number of buyers on the prowl.