{"id":2399,"date":"2022-08-10T10:00:00","date_gmt":"2022-08-10T14:00:00","guid":{"rendered":"https:\/\/www.deeds.com\/articles\/?p=2399"},"modified":"2024-04-25T23:18:42","modified_gmt":"2024-04-26T03:18:42","slug":"why-august-is-a-great-time-to-buy-your-home","status":"publish","type":"post","link":"https:\/\/www.deeds.com\/articles\/why-august-is-a-great-time-to-buy-your-home\/","title":{"rendered":"Why August Is a Great Time to Buy Your Home"},"content":{"rendered":"\n<figure class=\"wp-block-image aligncenter size-large is-resized\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.deeds.com\/articles\/wp-content\/uploads\/2022\/08\/why-august-is-a-great-time-to-buy-real-estate-1024x350.jpg\" alt=\"\" class=\"wp-image-2400\" width=\"1024\" height=\"350\" srcset=\"https:\/\/www.deeds.com\/articles\/wp-content\/uploads\/2022\/08\/why-august-is-a-great-time-to-buy-real-estate-1024x350.jpg 1024w, https:\/\/www.deeds.com\/articles\/wp-content\/uploads\/2022\/08\/why-august-is-a-great-time-to-buy-real-estate-300x103.jpg 300w, https:\/\/www.deeds.com\/articles\/wp-content\/uploads\/2022\/08\/why-august-is-a-great-time-to-buy-real-estate-768x262.jpg 768w, https:\/\/www.deeds.com\/articles\/wp-content\/uploads\/2022\/08\/why-august-is-a-great-time-to-buy-real-estate-1536x525.jpg 1536w, https:\/\/www.deeds.com\/articles\/wp-content\/uploads\/2022\/08\/why-august-is-a-great-time-to-buy-real-estate.jpg 1987w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">Late summer is the Goldilocks season for buying a home.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">During winter, the real estate market can get a little like cold porridge. It\u2019s harder to predict open house weather, and there are fewer houses being shown. Gardens go dormant, and home sale activity chills. So inventory can be limited in the cold months of winter.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">During spring, and through the early summer months, the market can get too hot! Spring brings out the buyers with pent-up demand. More buyer competition will always make real estate pricier.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">And that\u2019s why August and September could be\u2026 just right.<\/p>\n\n\n\n<!--more-->\n\n\n\n<h2 class=\"wp-block-heading\">Look for the Sweet Spot<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cIf you\u2019re looking for a sweet spot between peak season and winter,\u201d according to Quicken Loans, \u201cconsider buying in August or September.\u201d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Why is the best house buying season when summer gives way to autumn? By then, the market is just starting to cool off a bit. And while there are usually a good number of homes listed, there aren\u2019t quite as many people competing for them as there are in the spring and summer months.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This gives the buyer a higher chance of negotiating successfully with sellers.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><em>\u261b<\/em><strong><em> Yes, negotiation is back. Lately, sellers have lowered their listing prices in a number of popular real estate markets. And (whew!) <\/em><\/strong><a href=\"https:\/\/www.deeds.com\/articles\/succeeding-with-contingent-offers-in-a-sellers-market\/\"><strong><em>buyers are keeping important contingencies<\/em><\/strong><\/a><strong><em> in their offers.<\/em><\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Before August, sellers are better positioned to command the highest prices. But from early August, into the autumn months, sellers in many markets are more willing to work with buyers. Families are especially eager to sell and resettle into their next homes before the start of the school year.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">And those butterfly gardens\u2026 the goldenrod and asters start to bloom in late summer. It\u2019s a beautiful time to imagine living in your new home.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Best Before Winter Rolls Around<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Wintertime is can have relatively low inventories. For one thing, people have holiday planning on their minds. It\u2019s not unusual to see sellers wait out the Thanksgiving to New Year months before listing their homes on the market.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In some areas of the country, winter is not the most pleasant time for shopping in any case. And the window of opportunity is short when you\u2019re touring homes, trying to imagine the foliage and the sunshine. Neighbors are bundled up indoors. It\u2019s hard to gauge the local activity and noise levels. Snow-covered roofs and grounds are more difficult to examine. In states without snow and ice, this won\u2019t be a factor. Still, real estate and mortgage professionals may be distracted with winter family plans.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">On the other hand, because fewer mortgages are sought in wintertime, they can receive quicker processing. Also on the bright side: Buyers can often get homes at the lowest prices in wintertime in most markets. Generally, wintertime offers fewer choices, but better chances to get a good deal. As Zillow\u00ae <a href=\"https:\/\/www.zillow.com\/home-buying-guide\/best-time-to-buy-a-house\/\" target=\"_blank\" rel=\"noreferrer noopener\">says<\/a>: \u201cThe window between late fall and early winter is the best time for buyers on a budget.\u201d<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Spring Is the Seller\u2019s Season<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Sellers know people are itching to come out and see houses in the springtime. And many are prepared to make bids. So prices tend to be at their highest in this season. By April, the buyers are as active as they\u2019ll be all year. Not the optimal time to be shopping for a house, if you have a choice!<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">If you wait for the springtime to buy a home, then, you\u2019ll need to be nimble. Sure, you\u2019ll have an array of homes for sale in many markets, but a lot of people will be out there looking for those same homes.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Real estate typically stays brisk throughout the summer. People like to move in summertime. Sellers with kids prefer it, as moving between school years is easiest. By the end of summer, they want to be relocated.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">And this means getting deals is statistically more likely if you\u2019re shopping for homes near the summer\u2019s end.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Late Summer and Early Autumn: Just Right<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">From July through September, sellers are the most likely to lower their prices.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cAugust has the most price cuts, while inventory levels are still healthy,\u201d Zillow says.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Additionally, Zillow says:<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><em>August is the final month in the time span where listings are most abundant nationwide. Peak inventory falls between June and August.<\/em><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Similar sentiments have been spoken by <a href=\"https:\/\/www.realtor.com\/research\/best-time-to-sell-2022\/\" target=\"_blank\" rel=\"noreferrer noopener\"><em>REALTOR.com<\/em><\/a>\u00ae:<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><em>Historically, the number of views per listing has cooled in the late summer \/ early fall and tends to improve for buyers from that point forward.&nbsp;Additionally, by mid-August, the number of sellers with actively listed homes increased\u2026 which means more options for buyers.&nbsp;<\/em><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Clearly, this is an important tip for the buyer. It suggests that hopeful buyers who\u2019ve been priced out earlier in the year might well be in luck as the summer days get shorter.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">And there\u2019s further hope for those who have managed to stay the course this year, even as mortgage rates have continued to rise. Some people are balking at these rates, and putting their home-buying plans on hold. This means there\u2019s more to go around for the buyers who persist.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><em>\u261b <\/em><strong><em>With some homebuyers balking at rising mortgage rates, houses aren\u2019t moving quite so fast these days. And sellers can\u2019t call all the shots any more. <\/em><\/strong><a href=\"https:\/\/www.deeds.com\/articles\/six-cities-where-home-buyers-might-finally-get-a-fair-deal\/\"><strong><em>Hopeful buyers should find this interesting<\/em><\/strong><\/a><strong><em>.<\/em><\/strong><\/p>\n\n\n\n<h2 class=\"wp-block-heading\">The Takeaway<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">You\u2019re likely to find more homes listed for sale in August than at any other time. Plus, buyer competition eases as summer winds down. So, even in markets that don\u2019t have as much inventory, there are fewer buyers looking.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Zillow sums up the seasonal dynamic straightforwardly:<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><em>Late summer is the best season to buy a house if you want a shopping experience with enough inventory to find a home you love, while benefiting from sellers lowering prices before the fall. <strong>Therefore, the best month to buy a house is August.<\/strong><\/em><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">So there we have it.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Stay aware that the housing inventory can start getting tight by late September. Many people plan to be through closing by then. And we are already in the midst of a housing shortage. Plan accordingly!<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">PS: Exceptions Prove the Rule<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Each home buyer is unique. So is each real estate market. Some are constantly popular. Consider that well-managed condo property that\u2019s more reasonably priced than all other homes in the area. In such places, competition and a tight inventory can be the norm in any season.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The truly \u201cright\u201d time to buy a house is when it makes sense in the buyer\u2019s life. It\u2019s when the buyer is ready to purchase a home to settle into for several years, so as to <a href=\"https:\/\/www.deeds.com\/articles\/buying-a-house-to-save-money-its-a-tried-and-true-method\/\">build up home equity<\/a>. It\u2019s when the conditions out there in the real estate world suit the buyer \u2014 not the other way around.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Supporting References<\/strong><\/p>\n\n\n\n<p class=\"has-small-font-size wp-block-paragraph\">Hannah Jones for <em>REALTOR.com<\/em>\u00ae: <a href=\"https:\/\/www.realtor.com\/research\/best-time-to-sell-2022\/\" target=\"_blank\" rel=\"noreferrer noopener\">The Best Time to List: The Week of April 10-16<\/a> (Mar. 14, 2022).<\/p>\n\n\n\n<p class=\"has-small-font-size wp-block-paragraph\">Home Buying Guides from <em>Zillow.com<\/em>\u00ae: <a href=\"https:\/\/www.zillow.com\/home-buying-guide\/best-time-to-buy-a-house\/\" target=\"_blank\" rel=\"noreferrer noopener\">When Is The Best Time to Buy a House<\/a>?<\/p>\n\n\n\n<p class=\"has-small-font-size wp-block-paragraph\">Victoria Araj for Rocket Mortgage\u00ae: <a href=\"https:\/\/www.rocketmortgage.com\/learn\/best-time-of-year-to-buy-a-house\" target=\"_blank\" rel=\"noreferrer noopener\">The Best Time of Year to Buy a House<\/a> (Aug. 1, 2022). \u00a0<\/p>\n\n\n\n<p class=\"has-small-font-size wp-block-paragraph\">Victoria Araj for Quicken Loans\u00ae: <a href=\"https:\/\/www.quickenloans.com\/learn\/best-time-to-buy-a-house\" target=\"_blank\" rel=\"noreferrer noopener\">When Is The Best Time To Buy A House? A Complete Breakdown<\/a> (Oct. 8, 2021).<\/p>\n\n\n\n<p class=\"has-small-font-size wp-block-paragraph\">And as linked.<\/p>\n\n\n\n<p class=\"has-small-font-size wp-block-paragraph\">Photo credits: <a href=\"https:\/\/www.pexels.com\/photo\/white-and-blue-floral-i-am-happy-print-card-5498350\/\" target=\"_blank\" rel=\"noreferrer noopener\">Boris Pavlikovsky<\/a>, via Pexels.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Late summer is the Goldilocks season for buying a home. During winter, the real estate market can get a little like cold porridge. It\u2019s harder to predict open house weather, and there are fewer houses being shown. Gardens go dormant, and home sale activity chills. So inventory can be limited in the cold months of [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[71],"tags":[],"class_list":["post-2399","post","type-post","status-publish","format-standard","hentry","category-general"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Why August Is a Great Time to Buy Your Home - Deeds.com<\/title>\n<meta name=\"description\" content=\"Late summer is the Goldilocks season for buying a home. 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