Is now the time? Should I buy or should I sell now?

Understanding Seasonal Real Estate Trends

You might want to consult your calendar if you’re wondering whether it will ever be a good time to buy a house. Many buyers focus on home prices, economic trends, and personal finances—but the time of year can significantly impact both buyers and sellers.

When Is the Best Time to Buy?

Home prices typically hit their lowest in late fall and winter. On average, prices are 16% lower between December and February compared to their peak in June. If you cannot wait until winter, fall is still a good option, with prices averaging 5% below their annual peak in October and November.

Why the dip? Families prefer to move during summer when kids are out of school, and winter’s harsh weather discourages moving. Sellers listing homes in fall or winter are often more motivated, perhaps because they have been on the market for a while or need to sell quickly. This makes it an excellent time to make an offer below the asking price.

When Should You Sell?

If you’re looking to sell, spring and early summer are your best bet. Home prices tend to peak in June, but the entire window from April to July is strong. Homes also sell faster in spring, with the average time on the market being 33 days for listings between April and June, compared to 49 days in winter. While prices are higher, buyers also have more options in the spring, which can lead to competition for well-priced homes. Nationwide, around 16,500 homes sell each day in spring compared to just over 11,000 per day in winter.

What About Interest Rates?

The Federal Reserve’s interest rate cuts also impact the housing market. As mortgage rates fall, more buyers enter the market, pushing prices up slightly. However, current mortgage rates—around 6%—have already accounted for recent rate cuts. While they may dip slightly, expecting a return to the historically low rates of 2020-2021 isn’t realistic. Buyers should act now if they’re waiting for rates to drop further.

Timing is everything in real estate. Whether you are looking for a bargain or trying to maximize your sale price, understanding seasonal trends can make a big difference in your real estate experience. If you’re ready to buy or sell, make your move when the market works best for you.