You don’t always get to choose when to buy a house. A new job, a new baby, or another major life change can all be reasons to get a new place. The housing market changes throughout the year. At the very least, you should know what you’re in for depending on what time of year you have to buy based on your life circumstances. And if you do have a choice, it can pay off time your home purchase right.
Spring and summer are the busiest times of year for real estate. But are they the best times of year to buy a house in terms of pricing, competition, and other market factors?
Buying a home in spring
Spring is the traditional home-buying season. The real estate market heats up as the winter chill fades and the warm weather returns. In fact, in some housing markets, the busy buying season begins as early as February — right after the Super Bowl.
The better weather might be one reason. But early spring is also the perfect time for parents with children to plan and initiate the months-long process of buying a house, perhaps selling an existing home, long before the new school year begins.
Realtor.com research shows that mid-April is the best time for a home seller to list their house, with the week of April 13 to 19 being the best single week to sell. This period apparently boasts above-average buyer demand, less-than-average inventory, faster home sales, and higher median listing prices.
Buying a home in summer
The summer months are when the inventory of houses for sale is at its highest, according to Realtor.com. Of course, there is also more buyer competition, as parents look to finalize their moves before summer break concludes.
You might also consider the weather with a summer home purchase. In some parts of the country, where temperatures get very hot, the physical aspects of moving may become more challenging.
Buying a home in fall
In 2024, Realtor.com said the best time to buy a home was at the end of September or the beginning of October — specifically the week of Sept. 29 through Oct. 5. While that same timing may or may not be the case this year, early fall typically sees ample listings and slower buyer demand, resulting in slightly lower prices. These factors can make it a good time to buy a house if you’re otherwise financially ready.
Buying a home in winter
With fewer buyers in the market, there’s less house-hunting competition in the winter. But yeah, it’s winter. Snow and ice may be a factor in parts of the country, and it could be harder to find the perfect house while shopping in less-than-perfect weather conditions.
Homes for sale at this time of year may also be leftovers from the prior prime selling seasons, though bidding wars are less likely. Just remember: The closer you get to the holiday season, the slimmer the pickings typically are.
Best month to buy a house
As we mentioned before, late September and early October was the time to buy a home in 2024. There’s no telling if the same will ring true this year, but Fannie Mae economists do expect home sales to increase slowly but steadily across the year.
If the Federal Reserve reduces the federal funds rate, which it will likely do at least one or two times this year, mortgage rates could decrease too. This would attract more buyers, potentially increasing home prices and changing market conditions.
