Timing is important when buying a home. When you decide to buy will determine the inventory, competition from other buyers and deals available. Pennsylvania has been a seller’s market for a few years. Nevertheless, the best time to buy is usually during fall and winter.
When Is the Best Time to Buy a House in PA for Deals?
If you want the best deal, the best time to buy is during the fall and winter, especially around the holidays. Home buyers tend to be busy during this time of year, which means fewer competing offers to drive the price up. Sellers who want to sell in the winter may also be more motivated to sell quickly, which can mean more attractive prices.
In addition, most sellers list in spring and summer. By the time fall and winter come around, if a house has not sold, the sellers may be more willing to reduce the price or consider lower offers.
Another way to time the market is to look at the local economy. Whenever the local economy takes a downturn that lasts for at least a few months, you may see deals. People may want to liquidate their property to free up capital or may be looking to downsize. When the job market is not ideal, there may be fewer buyers, and the market may be skewed to the remaining individuals with the means to purchase.
When Is the Best Time to Buy a House When You Have Kids?
The peak time to buy when you have children is between April and June. This is when the housing stock is largest and when you will likely find the most variety, so you can find the right home for everyone in your family. In addition, since the closing process can take 30-60 days, looking and buying during this season can ensure you can move during the summer holidays, when the kids do not have school. If you move early enough, you can set up their new school, if necessary, and let them meet local kids before classes start.
The drawback of buying April to June is that this is when most buyers look. As a result, while there is more inventory, there will also be more buyers, which can push prices up. This is not the best time for deals.
When Is the Best Time to Buy a House for Me?
The right time to buy for you might not depend on markets. What’s best for you comes down to when you are ready to buy a home. No matter the season and the year, when you are ready to buy and do not want to rent, that is the right time to start looking.
If you’re at that stage of your journey, you may want to consider working with real estate agents who can guide you through home buying and lead you to properties which fit your needs and lifestyle. CENTURY 21 Core Partners can help. Our York, PA, real estate company works with both buyers and sellers, striving to assist you in reaching your property goals. Look at our open houses today to get started.