Buying a House in the Fall or Winter Could Save Your THOUSANDS

Many people adhere to the old myth that the only good time to buy a home is during Spring or Summer. However, there are quite a few advantages to buying during Fall and Winter, including lowered house prices and less competition.

As noted by Nerdwallet.com, home prices “typically peak during the summer, dip in the fall and are lowest in winter, potentially saving off-peak buyers thousands of dollars.” And who doesn’t want to save money on one of the biggest purchases of their lives?

In addition, Nerdwallet.com points out the areas of the country where Winter prices take the biggest dive. Northern states like Connecticut and Ohio see up to 8% decreases, but Southern states like ours still see price drops of up to 7.6%.

If you’re wondering WHY home prices drop during the Fall and Winter, here are a few main reasons:

·In the Fall and Winter, the gap between listing prices and actual selling prices increases – meaning buyers have more negotiating power

·The number of buyers dwindles during the Winter, so your offer is more likely to be considered

As we head into the Fall and Winter seasons here in Texas, take into consideration that buying now instead of next Summer could save you a substantial amount of money.