Lace-up your running shoes and get ready to buy a house! According to realtor.com, the best time to buy a house in 2022 is the week of Sept. 25th - Oct. 1st. Let's explore why you should have your real estate agent help you find a house to buy at the end of September.
One reason Sept. 25th - Oct. 1st is a great time to buy a house, according to realtor.com, is because there will be more houses for sale. The housing market is shifting from a seller's to a buyer's market, and you may see as many as 46% more homes for sale compared to the average so far in 2022.
Buying a house at the end of September may also result in huge savings. Realtor.com suggests home buyers may save $20,000 or more compared to what buyers were paying at the peak of summer. You may save more if you wait to buy closer to the holidays when home sellers are desperate to get their house under contract.
- Price growth is slowing
- More house price reductions
- The housing market is leveling off
- More houses are going up for sale
- Fewer home buyers in the market
- Houses are staying on the market longer
Market conditions are most balanced at the end of September, making it easier to find a house to buy. The price growth of houses is slowing down as the market levels off. More houses are going up for sale, and there are fewer buyers to compete against. With houses staying on the market longer, home buyers have more room to negotiate the price and take advantage of home seller concessions (ex. paying closing costs). In addition, the longer a home is for sale, the more likely the seller will reduce the price. These market conditions favor home buyers purchasing a home during the last week of September.
Now is the time to talk to your real estate agent about finding a house to buy. Start making a list of houses you are interested in buying. As Sept. 25th approaches, your agent might have a long list of homes with price reductions, some of which might include the houses on your list. If you need a local real estate agent, please let us know at info@reazo.com. We want to do everything we can to help you find a house to buy with the help of a real estate professional.
