Thinking of buying or selling a home but not sure whether now is the right time? Well, anytime is the right time! However, according to NerdWallet and Chief Economist Jonathan Smoke from Realtor.com say that the winter months are the best time to purchase a home. Why is that?
Most people would think that the summer would be the best time to buy so families moving can enroll their kids into school before the beginning of the school year. However, sales tend to be a lot lower in January than they are in the months of July and August because they are known as the “most popular” home buying months. Due to less competition, the best time to buy that dream home of yours would actually be in January and February. According to realtor.com data collected over the past two years, the prices of homes are about 8.45% lower in January and February than they are in July and August.
One last reason to buy in the winter is that in the later months of 2017 into 2018, the mortgage rates are expected to increase by about 5%, according to Robert Dietz, chief economist from the National Association of Home Builders. That being said, if you’re ready to buy or sell but don’t want to face the brisk winter weather, give me a call and I’ll find just what you’re looking for.