Fall unlocks best deals for homebuyers
Date
11/18/2024 1:51:50 AM
(MENAFN) A common misconception in the U.S. Real estate market is that spring is the ideal time to purchase a home. In fact, spring is more advantageous for sellers.
"Most homebuyers think spring is the best time to buy because we all call it the spring buying season. But if you actually look at housing market metrics, the fall overwhelmingly is a much more favorable time for buyers to get their foot in the door in the housing market," explained Ralph McLaughlin, senior economist at Realtor.com, in an interview with FOX Business.
According to economists at Realtor.com, the optimal time to buy a home nationwide is from the last week of September to the first week of October. However, McLaughlin emphasized that buyers do not need to "hit that peak week perfectly." He stated that any time during the fall season would be more beneficial for buyers than spring.
McLaughlin highlighted several reasons why fall is ideal for buyers, particularly pointing out the supply and demand imbalance that tends to occur toward the end of the year, which favors those looking to purchase.
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