If you think that the real estate market will be stagnant in October, think again!
Fall real estate may not be as busy as Summer real estate, but it doesn’t mean that these Autumn months will be boring.
Here are some reasons why Fall may be the new ideal time to buy a home.
Families who want to be in a new home by the beginning of the school season are no longer shopping at this point. These families have exited the market, which means less competition. That translates into more opportunities for buyers. Generally, there is a cocooning effect that takes place as the days grow colder and shorter.
Inventory is low.
The amount of homes available in fall is slim, but that low inventory actually has an upside for home buyers. Since the supply of listings shrinks this time of year, it’s easier to narrow down the list of your top properties
A home seller may want to take advantage of a gain or loss during this tax year. Buyers might find homeowners looking to make deals so they can close before December 31st and get that tax benefit.
There’s nothing wrong with a summer home leftover. These are the properties that made it all the way through the hot buying season without a deal, and this means home sellers may be more willing to negotiate. By October, buyers are likely to find desperate sellers and prices that may, in fact, be below a home’s true market value.
Sellers are serious.
As the holidays approach, the last thing a homeowner wants is for their sale to be dragging on and interrupting their parties and events. That makes Fall season home sellers are serious at making that sale. This just means that buyers are in great position when house hunting and making deals during fall.