Whether you’re buying a home to live in or are an avid real estate investor, knowing that the Black Friday of real estate is near can be extremely exciting. The idea of being able to acquire a property for less can have you jumping for joy. Knowing when this Black Friday occurs so that you act is the key to saving yourself a bundle of money.
This year, the predictor for Black Friday was the economists at Realtor.com. These individuals looked over data trends to compute when the best week is to get the cheapest deal on a property. They’ve concluded that for the year of 2019, this will start the week of September 22nd. So, you better get your pre-approval ready and get your list of potential homes ready to roll.
Why Is This The Best Time To Buy?
It’s not some magical time that happens without actual causes. If you take some time to assess the housing market and people’s regular actions, it becomes overly clear why this time of year is the best to get a great deal on a new home. Let’s take a look at some of the trends and habits so you can understand.
It’s no big surprise that people want to move in the summer months. Summer is the busiest time for real estate purchases throughout the entire year. People would rather move in the summertime when it’s warmer, stays light longer, and they don’t have to deal with snow or ice. Sellers agents know that they can get the most out of home listings during the summertime. So, don’t really expect to grab a great deal in the summer as there are many active home buyers on the market.
When fall rolls around, it creates a stress on the seller to get rid of the property before the end of the year. Most families that go by a school schedule have already purchased a home and moved in before school started. This makes September the perfect time for buyers to get cheaper prices because there is less of a demand for properties at this time. The fewer buyers in the market, the more sellers will be willing to go down in price to obtain them.