Best month to end lease - for renting as well as buying (for sale)

[unionjack007]

I'm currently in a lease that ends at the end of August. I'll most likely extend or move into another rental. Knowing what slim pickings there were for rentals when I signed, I'd like to avoid it again. I'd like your opinions as to which month most rentals come on the market (on Craigslist and other websites) as well as which month folks actually move in/out of them.

Also, when do the bulk of homes for sale appear on the market in the spring? How long after the sale price is agreed upon does it take to close the deal and start moving in?

[CaliTerp07]

Originally Posted by unionjack007

I'm currently in a lease that ends at the end of August. I'll most likely extend or move into another rental. Knowing what slim pickings there were for rentals when I signed, I'd like to avoid it again. I'd like your opinions as to which month most rentals come on the market (on Craigslist and other websites) as well as which month folks actually move in/out of them.

Early/mid summer (June/July) in my opinion, though there were always more than enough to choose from whatever month we moved (July, June, February, November). Students move in the summer when they graduate, and usually take on year long leases.

Also, when do the bulk of homes for sale appear on the market in the spring? How long after the sale price is agreed upon does it take to close the deal and start moving in?

I've watched the inventory in my neck of the woods increase significantly in late april/early may. Movers with children want the deal to wrap up over the summer so they can move without disrupting the kids.

My realtor when we bought our house told us that he's often seen homes taken off the market in November/December for the holidays, and then re-listed in the spring time, but at a higher price. You may find better deals on buying a place in October/November, as people want to be in their new home by the holidays and demand is less.

The closing date can be whenever buyers/sellers agree on it. 30 or 60 days is typical, but it can be whatever works for both of you.

[boyd888]

The best time in which you have the potential to land a great deal on a home is over the holidays (thanksgiving/christmas) as very few people want to move in the middle of winter/holiday season. That doesn't mean that you are guaranteed anything because inventory is also way lower during that time of year as well and it only takes one other party wanting the same place to ruin any "deal."

For renting it depends on your lease term and when it ends. A year rental starting in August should be cheaper than a six month rental that would end in the middle of winter. However, you may find that a six month lease started in the winter is cheap because it ends in the summer and can easily be rerented etc.