The most popular times to buy property generally start in the spring and ends in the fall. There are several reasons for why this time spring to fall is popular. First, the weather plays a large factor. When the weather is nice out there are a lot more people willing to go to an open house and look at houses. When it is raining or even worse snowing open house numbers decrease dramatically.
Aside from just a pure numbers stand point, the summer season makes sense because many home buyers have children. And if you have a child, the school year is a super busy time for your family. Many families are also reluctant to move while their child is in school. And with so many holidays in the fall to spring it is difficult to find the time to buy real estate.
The “slow” time of year for real estate does create an opportunity for homebuyers. It may be your best chance to find the deal you want. If a house has been on the market for the summer and has yet to get a buyer, the seller may be willing to negotiate a lot more than during the busy season. Many sellers will not have the patience to wait to sell their properties in the spring and be willing to reduce the price.
Buying a house in the winter may also come with some problems. First, it is often more difficult to get the paperwork completed during the holidays. It is also difficult to look and assess houses when there is a lot of snow on the ground. That being said, snow also brings the unique opportunity to see how the home will hold up during the winter months. What better way to see if the basement floods, or will have ice dam issues than to see the house in action during a snow storm.
In the end, the best chance to get a bargain is in the winter months. If you luck out with some nice weather and willing to walk around in the cold it can lead you to the best deals. With 4 weeks until Thanksgiving and 7 weeks until Christmas happy Holiday shopping to you.