The days are getting warmer, longer, and the sounds of the Ice Cream truck are starting to fill the afternoons. But the biggest sign that is summer? The “For Sale” signs popping up all over town. Summer is the most popular time of year to buy and sell a home. And if you’re starting to think about your own home search, you might be considering waiting until the market (and weather) cool down. But there really isn’t any reason not to buy in the summer. Actually, there are some great advantages to purchasing now, as long as you can stand the heat of some competition! Keep reading to learn why you should buy a home during the summer, and click this link to read the full article.
1. Prices aren’t necessarily higher
“A huge myth about the real estate market is that homes sell for more in the summer and less in the winter. This is simply not true,” says Dippy Chhina of Dippy Real Estate.
Let’s be clear: Home prices do usually peak in June–August. And it’s a seller’s market in most areas. But other forces beyond the summer sun play a major role in a home’s asking price, Chhina notes. They include the number of similar homes also for sale in a given area, interest rates, and the job market.
“What is true, however, is that there are more homes on the market in summer than in the winter, and there is also a higher number of sales in the summer than the winter,” Chhina says.
Which leads us to our next summer-buying advantage.