The best time to buy a house is when you’re ready. But, once you’re ready, picking the right time of year to start the process could be beneficial. It could even save you money. How? Well, when the market slows down and there are fewer active home buyers, price increases, bidding wars, and competition also slow down. That means, buying at the right time of year may mean better deals and less stress. And, according to a recent analysis from the National Association of Realtors’ consumer website, the right time of year may be right now. “Home prices peaked in the summer, and new listings continue to come on the market helping slow the pace of sales – which is good news for homebuyers,” Danielle Hale, the site’s chief economist, said. “As families across the county focus on getting back into school routines, there are fewer buyers in the market, creating a great opportunity especially for first-time home buyers to make a purchase with somewhat less competition.” The analysis found that, between September 12 and October 17, buyers could see prices $10,000 below their seasonal high. (source)
