Hoping to buy a house or condo in 2019 or 2020? The housing market always produces key buying moments if you can read the signals. Timing your purchase could save you lot of hard earned money.
And since many first time buyers are maxxing out their home purchase budget amid potentially higher price and mortgage rates, it’s just plain smart to be strategic about when to buy a home.
Stock market advisors suggest buying stocks continuously without regard to market fluctuations. In the housing market however, that’s not smart. Timing your buy strategically can help you acquire a much better house or condo for you money.
In every major city, the market forecast is good for 2019/2020. The value of real estate has surpassed the stock markets, gold and of course your savings account. Finding the best time to buy a home, makes you the smartest of all traders. And when you buy you’re trading money for an asset. And there’s more to timing the purchase of a home or condo. Find out much more below, and start your hunt for a Realtor.
Housing Market Best Timing Signals
Let’s Summarize some of the Best home buy signals:
- temporary price depreciation/lull
- fall/winter season
- mortgage rate changes
- bad news/political upheaval
- avoid bidding wars
- look for properties poorly marketed or promoted
- avoid properties being sold by top Realtors in your town
- recessions/market crashes
- homeowner is having more trouble paying their debts (January, February)
- house is listed well below comps
Look for those times when the owner feels their home is worth less, or when you’re the only prospect. Avoid times when there is lots of competition which could push prices up by tens of thousands.
An if you’re a first time buyer, paying a huge chunk of your income to rent, this whole matter of buying at the right time is important to your current and future well being. Don’t go from losing a little equity every month to losing a boatload in one day.
Avoid the Peak Times to Buy a House
When housing prices peak, it’s because too many buyers are chasing too few homes. Very predictable and you must avoid wasting your money in the frenzy.
As you read in the housing market forecasts, prices are rising into 2019 and beyond. Realtors and sellers try to strategize to build up emotion in buyers and get them bidding unwisely. Bidding wars commonly resulted in buyers paying $100k more than necessary.
Okay, for those without a strategic sense, buying in the fall and winter months traditionally might be best to get lower prices. However, everyone pulls their house off the market during October, November and December.
When is the Absolute Best Time to Buy a House?
The very best, ideal time to buy a house in the winter, may be near or at the winter holidays such as Easter, spring break, or teacher professional development days. Homeowners may be at home and may be most susceptible to the idea of selling and moving.
Late winter is a restless time for those in the cold, snowbound north, which is why a good number of people fly south for a vacation. Discontent, fatigue, boredom, and desire for something better is what gets them off the fence about letting go of their old house. Why do people sell in the spring? Because they’ve had enough after their winter of discontent. Catch them early.
Don’t worry about which days are best to buy a house. The key is to use your all channel accelerated home search strategy into action, and begin uncovering your dream house amidst winter’s gloom.
Good luck with your house search. You’ve found the best time to buy because it’s the best time for them to sell...:)