Where can I go to find information on when the estate market is the most lucrative?
I.e. When is the best time to purchase a home? Is there some observed month/season known by real estate agents as the most prominent, such as a, sort of, "home buying" month/season?
2007-02-09 07:28:56 · 6 answers · asked by evelynn waugh 2 in Business & Finance ➔ Renting & Real Estate
It varies by area and demographic. Families ususually move in the summer to avoid disrupting their children mid-year in school. "best time" to buy is the holidays, the homes on the market (many are taken off during the holidays) are desperate sellers.
The market really doesn't vary month to month though, it is longer term then that.
This is a good time to be a buyer, but I am expecting it to get better and am only purchasing vacent land right now. Well...shopping for it anyway....the rental market is booming again, time to build apartments.
2007-02-09 07:36:56 · answer #1 · answered by Anonymous · 3⤊ 0⤋
I can't tell you of an observed prominent time but I can tell you that, in general, the best time to buy real estate is in a depressed market. When we have an active, expanding market like we have just gone through everyone wants to get on the band wagon and hurry up and buy real estate before it's too late.
The truth is that if the flurry is already well under way, you are too late. Wait until everything slows down and homes are sitting on the market for a while. Everyone will tell you that real estate is slow and not to bother but that is when you can get the best deals and you will own your real estate when the market takes off again.
As far as time of the year are concerned, the market typically slows down between Thanksgiving and a few weeks into January. Very few buyers are out looking and sellers who want ot sell now and not wait are wiling to make deals.
2007-02-09 15:37:46 · answer #2 · answered by Anonymous · 0⤊ 0⤋
In most parts of the country, the bulk of any annual appreciation takes place when the spring buying market kicks in. Most families prefer to move when school is out, so the busiest time for listings and sales is March through May, with closings June through August.
In warmer climates, perhaps it's not as noticable as it is in the cold midwest, since the practicalities of moving in the middle of winter aren't as much of a factor, but I think the pattern still plays out in most markets.
2007-02-09 15:36:31 · answer #3 · answered by Anonymous · 2⤊ 0⤋
it all depends in the area you live in. I would go to the city's website & look under zoning & residential. That should let you know what's going on. Check Yahoo Homes also.
The best way to know how the market is, is to actually sit down w/ a realtor to discuss it.
If you're in Florida, let me tell you it is a buyers market.
It depends on how well populated the area is. The more houses, there could be a chance for a bubble.
2007-02-09 15:35:06 · answer #4 · answered by glitzyglitter01 1 · 1⤊ 0⤋
The winter time in most places is slow in home sales, which means it is the best for buyers where you can get sellers to work with you a lot more. Typically home sales boom between March and September, there will be a lot more competition at this time.
2007-02-09 15:42:39 · answer #5 · answered by Luna27 5 · 1⤊ 0⤋
I think the summer is a better time for home buying -- people most likely don't want to leave their home in the winter....
2007-02-09 17:16:33 · answer #6 · answered by Anonymous · 0⤊ 0⤋