Fall is now the new spring! The Fall of 2021 showed more inventory on the market than in Spring of this year. Fall often means new inventory and price reductions on old inventory that did not sell in the prime housing season. As we near the end of the pandemic Seller's are more comfortable with listing their homes than in last year and a half. Thomas White Principle Broker of TMW Realty Group says, "Folks who may have wanted to avoid the housing rush from earlier this year may be playing the market now in hopes of getting serious buyers." With inventory up this fall, here are some reasons why you should consider buying:
Sellers Are Motivated
Sellers who listed their home in the market during peak selling seasons of spring and summer have been a little overconfident by listing their homes for more than what buyers where willing to spend. After months of sitting on the market sellers grow weary of waiting and become more eager to make a deal. “Sellers who were unrealistic earlier in the year about price will now be more willing to reduce the price come fall,” says Thomas Miller, a Washington, DC, real estate agent. “Because there [are fewer buyers] and because the sellers are now eager to sell, they are more inclined to take the low offer than wait another six months for spring to come around."
For other seller the timing may have been right to sell in the fall. Maybe they were waiting for their new house to be built before putting their existing home on the market. In other cases, they may be motivate to sell because of a job change prompting the need to relocate.
2. Less Competition
The spring and summer seasons are the busiest and most ideal times to buy a home. Many buyers are looking to beat the fall season and want to be settled in before the start of school, a time considered to be the "offseason." As new inventory hits the market and old inventory drops in price, less buyers are in the market to buy which puts you in better position to negotiate. You face less competition and get more attention from sellers.
3. Year End Sales Make Improvements and Upgrades Cheaper
There will be improvements you'll want to make after buying your new home. You will probably want to make purchases to maintain your new home and decorate (especially for the holiday season). If appliances were not included in the purchase you will need those too. Coordinating your new home purchase with sales on household items is a great way to take advantage of deals happening on all sorts of consumer goods. October means lawn mowers go on sales. In November, retailers are looking to move appliances and cookware before the end of the year in order close out 4th quarter sales numbers. You'll be able to find great deals on Black Friday and holiday bargains.
Comentários