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But when exactly is the best time to buy?
Heres a breakdown of thebest times of the year to buy a home.
Spring and summer are the busiest times in the market.
Prices are also higher during these months because sellers know buyers are out there looking.
Sebastian Frey, Silicon Valley broker, explained that springs demand often outweighs supply.
Late Summer and Fall: A Sweet Spot for Buyers?
If youre looking for a balance between selection and affordability, late summer and early fall might be ideal.
By late summer, competition drops off, Roberts said.
November, in particular, tends to have the lowest seller premiums.
Early October can also be a good time to find deals before the holiday season starts.
Sellers know the number of buyers will drop off, so they tend to be more flexible in pricing.
Its better to sell now than hold on for another four or five months, he said.
With less competition, buyers may have more room to negotiate price, seller concessions or flexible terms.
Buyer activity tends to slow down in November, December and January.
Plus, closing before year-end can bring tax benefits, such as mortgage interest and property tax deductions.
While inventory may be lower, for buyers focused on savings and negotiation power, winter offers prime opportunities.
Whereas, during winter, sellers are more willing to accept a low offer.
It really depends on how the buyer defines a good deal.
Local market conditions also play a role.
In Palm Springs, the real estate market slows when temperatures rise.
According to Dorat, the luxury market in South Florida is active during winter due to snowbird buyers.
For those buying in December, theres another advantage: property tax savings.
So, When Should You Buy?
The best time to buy a home depends on your priorities.
Spring and summer offer the most inventory but come with higher prices and competition.
Late summer and fall can be a sweet spot between finding better deals while still offering a decent selection.
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