If you think summer is the best time to buy in our market, think again.
Fall might be the best season of all to buy a home, and there are a few reasons why.
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If you’re thinking of buying a home in Ohio, you might be wondering when the best time of year is to do so.
Ohio experiences certain seasonal nuances in the real estate industry that can affect buyers, and these factors include the retraction of prices, supply, and the amount of competition you face when searching for the right home to buy.
While summer is often the most popular time to search for a home, most buyers find that not only do they face more competition during this season, but they also have to deal with a reduced inventory and, sometimes, higher prices.
This is why, oftentimes, fall is the best time to buy a home.
The first reason is that many buyers have vacated the market during this time, either because they already bought a home during the summer or they failed to buy a home over the previous months and have grown weary of the home-search process.
Ohio experiences certain seasonal nuances in the real estate industry that can affect buyers, and these factors include the retraction of prices, supply, and the amount of competition you face when searching for the right home to buy.
While summer is often the most popular time to search for a home, most buyers find that not only do they face more competition during this season, but they also have to deal with a reduced inventory and, sometimes, higher prices.
This is why, oftentimes, fall is the best time to buy a home.
The first reason is that many buyers have vacated the market during this time, either because they already bought a home during the summer or they failed to buy a home over the previous months and have grown weary of the home-search process.
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Fall is also a great time to buy because of the weather. Once the temperature starts dropping, buyer activity tends to slow down. This is particularly true in Ohio, where it can be difficult to see homes properly once there’s snow on the ground. This means you’ll face less competition, and since the weather hasn’t quite gotten wintry yet, you’ll still be able to properly evaluate a prospective home.
With less demand, you may also find that you can take advantage of lower pricing. This all boils down to supply and demand—once buyers start exiting the market, many sellers may be willing to drop the price of their homes, or at least be more open to negotiating than they previously had been. When inventory takes longer to sell, pricing power weakens, which means you’ll have the opportunity to save thousands of dollars on your home purchase.
So, are you ready to buy your next home?
If so, we’re eager to assist you in achieving your real estate dreams. If you want to get started now on your home buying journey or you have any other real estate questions for us, don’t hesitate to call, text, or email us anytime. We’d love to hear from you.
Until then, stay warm!
