Fall Home Buying Could Be a Better Time to Buy Than You Think

There’s a lot of attention on mortgage rates right now, and understandably so. But if you’ve been waiting for the “perfect” time to buy a home, there’s another factor worth considering: the season you choose to buy in.

Fall can create a different kind of opportunity for buyers. As the market shifts from the busy spring and summer months, buyers may find more homes to consider, changing prices, and sellers who are more open to negotiation.

In fact, Hannah Jones, Senior Economist at Realtor.com, says:

“We always see that the best time to buy window usually falls in the early fall around October.”

So, if buying a home has been on your mind, here are three reasons it may be worth taking another look at the market this fall.

1. You May Have More Homes to Choose From

Finding the right home can be difficult when inventory is limited. Fortunately, the fall market typically brings more homes onto the market and more opportunities for buyers to compare their options.

According to seasonal trends from Realtor.com, the number of homes available for sale is generally highest between September and November.

That means you may have a better chance of finding a home that fits your budget, location, lifestyle, and must-have list rather than settling simply because it’s one of the few options available.

And because homes that listed earlier in the year don’t all sell immediately, inventory can continue accumulating as the months go by.

More choices can mean fewer compromises.

2. Home Prices Typically Start Moving Lower

More inventory is helpful, but buyers also want to know whether sellers are becoming more flexible on price.

Historically, asking prices tend to begin their seasonal decline as the market moves into fall.

Spring and early summer are often when buyer demand is strongest, which can give sellers more confidence when setting their asking price. As buyer activity typically slows later in the year, sellers may have to adjust their pricing strategy to attract attention.

For buyers, that can create an opportunity to find a home at a more favorable price than you might have seen earlier in the year.

3. Sellers May Be More Willing to Negotiate

This is one of the biggest reasons I think buyers should pay attention to the fall market.

When a home has been sitting on the market, sellers may become increasingly motivated to get the transaction completed, especially as the holidays approach.

And with fewer buyers competing for homes compared with the busiest months of the year, there can be more room for negotiation.

The National Association of Realtors explains:

“Less competition can lead to better deals. While homes are not selling as fast as during the summer, sellers may be more willing to negotiate.”

That flexibility can make a real difference.

For example, a 5% reduction on a $500,000 home is $25,000. That could mean borrowing less, preserving more of your savings, having additional money available for improvements after closing, or simply making the overall cost of the home more comfortable.

The Bottom Line

There’s no single “perfect” month to buy a home, and every local market behaves a little differently. But fall has some advantages buyers shouldn't overlook.

More inventory.

Potentially lower asking prices.

And sellers who may be more open to negotiating.

If you've been waiting for the right opportunity to make a move, now may be a good time to find out what the market actually looks like for your specific situation.

If you're considering buying this fall, or even just wondering what your options look like, give me a call. I’d be happy to talk through the current market, your goals, and what opportunities may be available to you.

*Information sourced from Realtor.com, NAR, & Keeping Current Matters