As a buyer or seller, one question that will come for sure is, “when is the best time for selling and buying a home?” To be honest, the best time for buying or selling a home is not concrete. There are various factors that determine conduciveness of a time for buying or selling a home. We will be shedding light on three main factors.
1. Supply and demand of houses in the market is the most influential factor. This determines how readily the homes are getting sold in a market. You can schedule your listing at appropriate time with statistical assistance availed by a good realtor you work with. Real estate market activity plays the main role here.
2. The trend of interest rates is another influential factor that determines how conducive the current trends are for buying or selling a home. When interest rates are low, it’s a great time for buying or selling as you can negotiate for stronger pricing. Since low interest rates render more people qualified for buying homes, the demand gets higher in the market. This helps in getting the best possible benefit out of a deal.
3. Seasons play an important role in determining activity of a local real estate market. Popularly the period between late spring and early fall is considered the best season for real estate market activity. Don’t ignore the ‘months of inactivity’, be vigilant and keep observing market activity so that you can list your house at appropriate time. Having a good real estate agent by your side will be a boon here.
If you need any assistance or guidance for your real estate endeavors, feel free to contact us. We will be more than happy to help.