When the weather outside is frightful...
Home sales tend to rise along with the temperature. According to Realtor.com, 50% of homes are sold in summer. But if you want to get the best deal-and avoiding a bidding war-your odds are best when the weather turns colder and the days grow short, says Lawrence Yun, chief economist for the National Association of Realtors. Based on my experience, Winter is a great time to buy a house in the Reno area. - kelly
True, in fall and winter, you have less inventory out there, fewer homes to look at. But people who are buying a home in fall or winter, those are serious buyers. They are buying with a purpose - whether they're getting divorced or just realized they're having triplets or they're getting a job transfer. There's a reason for that move.
You might have a horde show up for your springtime open house, precious few of them might be earnestly looking to buy. Tire-kickers, in other words.
It may feel good to have 40 people come through your open house in May, but I'd rather have two serious buyers come through in December than have dozens of looky-loos (an industry term for less-than-serious buyers) in the Spring.
"Spring" doesn't necessarily coincide with what it says on the calendar. Spring starts in January in the real estate world
- right after the first of the year, there's a burst of activity from people who have been waiting for the holidays to be over. It ramps up to about mid-May, which is when most people are listing for sale, and that continues pretty strongly through the summer.
In the end, however - the best time to buy a house really depends on what makes the most sense for your situation. No seasonal discount is worth rushing into a decision.