Typically spring and early summer are the best times for the real estate market. The past 15 months have changed the way the industry sees as the peak real estate season. Experts say that around Labor Day will be the best time to buy a home this year.
The market “will still be relatively competitive. But I think fall will be less competitive than spring and summer, than what we're experiencing in the housing market right now,” says Danielle Hale, Realtor.com’s chief economist.
According to the National Association of Realtors, now that pandemic restrictions are easing up, more sellers are willing to put their houses on the market. There is also an upward trend in home construction and there should be more housing inventory by this fall.
“There aren't as many other buyers out there looking. And at the same time, you still have some sellers that are hoping to close before the end of the year that are in the market,” Hale says.
Many experts say that the end of the year will be a great time for buyers. There are great deals out there in November and December.
“And if you're buying late in the year, you might even be able to pick up a house at a good price because the seller has already moved and doesn't want to carry an empty house,” says Joey Sheehan, a real estate agent and author in Bryn Mawr, Pennsylvania.
“Buyers who are not quite as serious tend to kind of fade out,” he says. “For buyers that are willing to keep their eye on the prize at that point in time of the year, I think there's a real opportunity to potentially find that home.”
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