It is a long held belief that most home buying and selling occurs in the spring and summer. Real estate trend data does show this to be true. LendingTree looked through the data and discovered home sales peak in April and May, are strong in June and July, and 60% of all people move in the summer. However, this real estate season tends to favor home sellers.

Zillow, an online real estate database company, also dug into real estate sales data. They discovered that sellers benefit during this home selling season, receiving an average of 1 percent above their listing price and selling their home an average 18 days faster. If you are a home buyer, this isn't really good news. Who wants to pay more than they have to? Don't you agree?

Nonetheless, Realtor.com contributor Margaret Heidenry reported in September that long trending data shows fall gives the advantage to home buyers. Analysis of the data shows buying in October saved home buyers 2.6 percent below market value. Therefore, on a home with a $350,000 market value, the buyer saved $9,100. Would that be a benefit to you?

Why does this happen? There are several reasons. First, buyers have less competition. It is just a fact of the real estate business. Once we reach September, many buyers drop out of the market and wait until after the new year. Another major factor is a disheartened home seller. Imagine placing a house on the market in March and not selling after 6 long months. If the seller has left their home on the market, it means they have to sell. This will give the buyer leverage negotiating price.  

What haven't we covered yet that is important to you? If you would like to talk about the real estate trends showing fall is the best time to buy, or need more information, please contact us.