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In a strong market like today, would the same home go for cheaper now as it would around spring?
Frustrated buyers are in the market all 12 months.
Good stuff sells all year.
Nothing about the market would support the idea of trying to time the purchase of a desirable property.
Frustrated buyers are in the market all 12 months.
Good stuff sells all year.
Nothing about the market would support the idea of trying to time the purchase of a desirable property.
Check out the recent seasonal prices: The median sales price of homes last winter was more than $250,000—then it jumped up to nearly $267,000 in the spring.4 That means people who bought their homes during winter saved almost $17,000 compared to those who bought in spring—a nearly 7% discount. And hey, if you’re able to knock tens of thousands of dollars off your home purchase, that might make any challenges of buying during the wintertime worthwhile.
Check out the recent seasonal prices: The median sales price of homes last winter was more than $250,000—then it jumped up to nearly $267,000 in the spring.4 That means people who bought their homes during winter saved almost $17,000 compared to those who bought in spring—a nearly 7% discount. And hey, if you’re able to knock tens of thousands of dollars off your home purchase, that might make any challenges of buying during the wintertime worthwhile.
Why did you even ask if you already "know" the answer??
Now if some house had been put on the market in spring and was still sitting there in December, maybe the sellers would be ready to accept a lower price for it in December. There's your discount, but it has less to do with the month in which the house sells than the length of time it sat. The same thing could happen at any point during the year.
Check out the recent seasonal prices: The median sales price of homes last winter was more than $250,000—then it jumped up to nearly $267,000 in the spring.4 That means people who bought their homes during winter saved almost $17,000 compared to those who bought in spring—a nearly 7% discount. And hey, if you’re able to knock tens of thousands of dollars off your home purchase, that might make any challenges of buying during the wintertime worthwhile.
Are you looking for an argument???
The market improved, plain and simple. It could have gotten worse and the prices dropped. Go ahead and wait around, maybe the market will drop. Or go ahead and buy now, maybe the market will go up. Whatever.
In a strong market like today, would the same home go for cheaper now as it would around spring?
In my opinion, the majority of housing markets in the US see their highest prices of the year in early spring. This is when the sellers are putting their house up for sale and pricing it to perfection (plus a little more) just in case they've underestimated how high the market prices are.
Then prices hold fairly steady until about June at which time you'll see a little softening in prices. By late August or September, you'll see even more price cuts for those houses that have been on the market for about 6 months. You may not see much more price cutting during the mid to late fall, but you can bet that by the time December rolls around, the houses that are still on the market and that have motivated sellers are pretty "soft" on their asking price.
So, yes, prices are likely to be lower right now than they will be in late Feb or March.
Why did you even ask if you already "know" the answer??
Now if some house had been put on the market in spring and was still sitting there in December, maybe the sellers would be ready to accept a lower price for it in December. There's your discount, but it has less to do with the month in which the house sells than the length of time it sat. The same thing could happen at any point during the year.
Because I get pleasure out of exposing others lack of knowledge with facts.
Last edited by Berteau; 12-15-2019 at 06:31 PM..
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