Fall Might Be the Best Season for Home Buying

Although the summer months are the traditional time when most house hunters are out looking for their new home, savvy buyers should consider continuing or beginning their search in the fall. In fact, there are several factors which combine to make fall the optimal time for home buying. This largely comes down to less buyer competition; you are essentially zigging when most people zag, giving you the advantage over sellers as demand falls after summer. Keep reading to learn why fall might be the best season for home buying!

1. The deals are better

RealtyTrac analyzed millions of home sales which occurred between 2000 and 2015 in order to find the month in which homes sold for the largest percentage below market value. They found that October offered the best deals, with the average home selling for 2.6% below value. Additionally, the single best day of the year to close on a home was October 8, when buyers paid 10.8% below full market value on average. Three other fall days were included in the top 5: November 26, October 22, and October 15 (December 31 was the other).

2. Agents have more time

Because they have fewer clients after the summer rush, real estate agents will be able to devote more time and energy to your house search. Of course, our agents always do an amazing job, but there are only so many hours in the day!

3. It's easier to focus on the house

Once the weather takes a turn for the cold, you expect landscaping to largely die off. This is actually a good thing, as it shifts more of your attention to the merits of the house! After all, elaborate landscaping might look flashy, but it has little importance relative to the home's roof or windows. Less landscaping also means that it will be easier to observe the home's foundation and siding.

4. Bidding wars are rarer

There are several factors that go into there being fewer buyers in the fall. Buyers with children will often confine their home search to the summer because they don't want to move their kids during the school year. Other buyers simply don't want to be moving in the cold or around the holidays. Regardless, this means that there are fewer competitors around to outbid you for your dream house!

You can read more about these and other reasons to buy in the fall here.