Though some home buyers may be frustrated they didn’t find the perfect home this summer thanks to the intense competition for purchasing homes – they shouldn’t be discouraged. As some home shoppers leave the market in the fall, the odds that those who remain will find a dream home increases.
The least expensive months to buy a home are actually in the fall, according to the National Association of Realtors. In October buyers could pay about 2.7 percent below the market value of a property often because of how many would-be buyers have dropped out of the market by then. Likewise, people who are looking to sell and whose homes have been on the market a bit longer than expected, are more willing to get a deal done once autumn arrives.
Buy That Home!
Just like the summer market, it’s vital home buyers make sure they’re ready to make an offer as soon as they find a home they like. While the market is generally less busy in fall, today’s market conditions mean shoppers can still expect busy open houses and multiple bids. Having the ability to spring into action as soon as possible remains vital to finding a home before winter arrives.
Home shoppers need to stay in contact with their real estate agents throughout the home-buying process so they can make the most informed decisions based on how local markets are moving as the fall stretches on.
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