The Best Time of the Year to Buy A Home

Are you considering purchasing a new home? If so, listen up, because we’ve got some valuable advice for you. At Hatch Homes group, we believe that the best time of the year to buy a home in today’s real estate market is the fall season. Yes, you heard that right – autumn might just be the perfect time for you to make that dream home purchase. Let’s break down the reasons why and how you can benefit from this opportune time.

Seasonal Market Trends

Traditionally, the housing market experiences a wave-like effect throughout the year. In the spring, home prices tend to be higher as demand peaks with the warmer weather and families planning to move before the new school year. However, as summer comes to an end and the holiday season approaches, buyer demand starts to ease, and so do home prices. This seasonal trend is particularly notable in the Portland housing market, where you can ride the wave of lower prices in the fall.

Motivated Sellers and Negotiation Power

During the fall, sellers who haven’t yet found a buyer may be more motivated to sell before the holiday season kicks in. This motivation opens up opportunities for buyers to negotiate better deals, such as concessions like covering closing costs, getting a more favorable interest rate, or even having repairs taken care of by the seller. With motivated sellers and fewer competing buyers, you gain a stronger position in the negotiation process.

Favorable Interest Rates and Credit Score Impact

Interest rates directly affect your affordability as a buyer, and credit scores play a significant role in determining the interest rate you’ll be offered. By getting pre-approved early and working on improving your credit score, you position yourself for better mortgage terms. The fall gives you ample time to work on your credit and secure a more favorable interest rate, making your home purchase even more affordable in the long run.

Historical Data and Market Consistency

Based on historical data, the fall has consistently proven to be a sweet spot in the real estate market, especially in the past six years. While there might be some variations each year, this pattern has remained fairly consistent. This reliability adds to the confidence that the fall of 2023 will likely present another great opportunity for home buyers.

Planning Ahead

Whether you’re already in the market or planning to jump in, starting the process early is essential. Don’t wait until September to get pre-approved or to work on your credit score. By preparing in advance, you ensure that you are in the best possible position to take advantage of the fall’s housing market opportunities.

Bottom Line

The bottom line here is if you’ve been holding back on your home purchase, now is the time to take action. The fall season presents a unique opportunity to ride the wave of lower home prices, negotiate better deals with motivated sellers, secure favorable interest rates, and ultimately find the perfect home for you and your family. Don’t let this chance slip away – start preparing now to make your dream of homeownership a reality.

At Hatch Homes group, we genuinely believe that the best time to buy a home in 2023 is during the fall season. So, if you’re looking to make a move, be sure to keep an eye on the market in the coming months. And please share this article with a friend who might be considering a home purchase too.

Thanks for reading, and we’ll be back with more helpful insights next week!

Join Angela and Johnny as they dig into the topic on this weeks Market Update video!