Just today I was asked this very question. “What’s the Best Season for Home Buying?” And thought this article was interesting from the DAILY REAL ESTATE NEWS. I must say though – when buying a home, instead of trying to figure everything out on your own, sit down with a Realtor, ask some questions. We’re happy to meet with you. Because truly, the time to buy is when you – as a buyer – are ready to do so. These days (2012 and early 2013) the housing market is competitive no matter what time of year it is. On average, buyers entering the market today are faced with a minimum 3-6+ month house hunt due to a lack on inventory and an abundance of buyers. So writing several offers on several homes over the course of several months is standard operations these days. If you are ready to become a homeowner – jump in and get started. So much to learn, so much to see – The Caton Team is happy to help!
Enjoy this article…
What’s the Best Season for Home Buying?
After the holidays, buyers tend to start getting more aggressive with their house hunting. Search activity usually peaks around March or April in most states, according to a new study of home searches from 2007 to 2012 conducted by Trulia.
In September, searches slow down. By December buyer searches ebb to their lowest point of the year.
“Home-search activity swings with the seasons in every state,” says Jed Kolko, chief economist of Trulia. “Buyers and sellers can use these ups and downs to their advantage. Sellers looking for the most buyers should list when real estate search traffic peaks. Buyers, however, should think about searching off-season, when there is less competition from other searchers.”
The study revealed seasonal patterns of search activity state to state. Here are the months when online real estate searches peak in every U.S. state:
- January: Hawaii
- February: Florida
- March: Arizona, California, Delaware, Georgia, Idaho, Iowa, Kentucky, Maryland, Massachusetts, Michigan, Missouri, Nebraska, Nevada, Ohio, Oklahoma, Pennsylvania, Virginia, Washington
- April: Colorado, Connecticut, District of Columbia, Illinois, Indiana, Kansas, Minnesota, New York, North Dakota, South Dakota, Utah, West Virginia, Wisconsin
- May: Real estate activity does not peak in any state
- June: Mississippi
- July: Alabama, Alaska, Arkansas, Louisiana, Maine, New Hampshire, New Jersey, New Mexico, North Carolina, Rhode Island, South Carolina, Tennessee, Texas, Vermont, Wyoming
- August: Montana and Oregon
- September-December: Real estate activity does not peak in any state
Source: “Trulia Reveals Best Home-Searching Season,” HousingWire (Jan. 29, 2013)
Sabrina’s 2 Cents: In my experience, especially this year with our beloved 49’ers in the Superbowl, the market doesn’t really start to pick up until after Super Bowl Sunday. It is funny to hear – but it is true. We see the buyers get off the couch once the football season is over and listings start coming on the market. We are ready when you are – give us a call or email!
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Thanks for reading – Sabrina