Temperatures rise in the summer then start to fall as autumn approaches. The housing market follows a similar pattern. The number of home buyers active in the market starts to climb in spring and peaks sometime in early summer. By September, things are typically beginning to cool off, as buyer activity slows. That, however, doesn't mean it isn't a good time to shop for a house. In fact, according to one new analysis, home buyers may find improving conditions as we head into fall, making it an ideal time to be looking to buy.
Why? Well, for one, fewer buyers in the market means less competition for available homes, at a time when inventory is low. That'll give active buyers a little more breathing room and time to make decisions. It'll also mean price increases begin to moderate. They already have.
In fact, the typical home value rose just 0.2 percent from July to August. Combined with the fact that new listings are rising – at a time of year they usually fall – slower prices and less competition could add up to an opportunity for buyers gearing up to shop houses this fall.
[Source: PR Newswire]
