When you’re looking to purchase a new home, you hear location, location, location.
But timing can also be quite important.
Some parts of the year are a better time to buy a house than others.
In this article, we’re going to break down some statistics that show the best time of the year to buy a home.
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Housing Market Trends
The best time to buy a home depends on what you’re looking for. If you’re looking for the most extensive selection of homes, giving you more options and a better chance of finding that “dream home.” The summer months usually offer the widest selections.
If you’re trying to get the best deal on a house the winter months are where most bargains are seen, but inventory is usually at it’s lowest.
This chart shows the number of new listings, days on the market, and the percentage of homes selling above the list price.
Real Estate Chart – Home Listing and Sales Data
Best Time of the Year Get the Lowest Price on a Home
November – December
As you can see from the chart, November and December are the months in which the fewest percentage of homes sell for more than the asking price at 15% and 16%.
And they are the third and fourth ranks months in terms of average days on the market, but home listings are also at yearly lows.
The pool of home buyers is at its lowest in November and December, there are fewer options, but the homes that are listed have been on the market for a few months.
This means you can expect to get the best deal on a house in November and December; however, your options will be limited.
Best Time of the Year to find the Most Options
April – July
The most popular part of the year for buying and selling happens in the Spring through early summer. Between April and July, you will find the most home listings of the year.
Prices will also be higher, and bidding wars may be taking place because there are more buyers, and the number of homes selling above list price is also at it’s highest.
In these months, houses are flying off the market at their fastest rates of the year.
You can expect to find many more options in April, May, June, and July, but you’re going to pay for it.
With a larger pool of buyers, sellers are less willing to take low offers or include incentives like paying for buyers closing costs.
Best Days to Buy a Home
The best days of the year to buy a house are on days when the competition is low. Real estate agents say around the Holidays are the best days to submit a home offer. Christmas, Thanksgiving, Mother’s Day, Father’s Day, and even Easter are good days to submit an offer with little to no competition.
If you’re looking to get the best bargain on a new home, then buying in the winter months is the best time to buy a house.
If you’re more interested in a wider selection of homes, the Spring and Summer months have the most home listings. However, homes sell faster and often for more money than other times of the year.
Do you think you are ready to buy a new home?