Right now is the best time to buy a home this year, according to Realtor.com, which has identified Sept. 27 to Oct. 3 as the prime buying time for house hunters.
What makes this week the best time to buy? Realtor.com expects that right now, homebuyers will see a mix of greater listings, lower home prices and less competition compared to other times of the year.
“Home shoppers heading into the fall will find an opportunity that has been hard to come by in recent years: more choices and less urgency,” Realtor.com Senior Economist Hannah Jones notes. “That window has consistently landed in early fall, and this year it arrives a bit earlier than the past couple of years as inventory and price reductions both peaked earlier this past fall.”
According to the site’s analysis, this week is projected to offer 32% more active listings than at the start of the year for the greatest number of metros. Buyers are expected to save about $14,000 compared to the summer’s price peak, and list prices are estimated to be about 3.5% below their seasonal peak, too.
Jones advises prospective homebuyers to shop strategically instead of thinking of it as a deadline, “Shopping earlier in the fall may provide the broadest selection of fresh listings, while waiting later in the season may bring additional price flexibility.”
Ready to buy a home? Find a Pennsylvania Realtor®.
Topics
Member Discussion
Daily Emails
You’ll be the first to know about real estate trends and various legal happenings. Stay up-to-date by subscribing to JustListed.
