In the past few months, mortgage applications have risen more than 9 percent compared to 2019. That’s because interest rates are low and inventory is high. Although interest rates are low, is this a good time to buy a house?
There are certain times of the year when you can get an even better deal as a buyer. We’ve researched so that you don’t have to.
Take a load off, read on, and find out when you should start thinking about buying your dream home.
As winter ends people start to put their houses on the market. Starting in March and lasting through the summer, the choice of houses increases dramatically. This means that for about five months or so, your options will be biggest.
Of course, buyers know that sellers do this, so more buyers look at houses between March and July. That means there is more competition for each house on the market. This is true for Sabal Homes in the Brandon area, too.
So while there is a much greater choice if you want to buy a house in the spring and summer, prices are also likely to be at a premium, too.
In the winter months, sellers who are still on the market are getting more desperate to sell their house. That means it’s a great time to buy because you’ll likely be able to negotiate a better price.
At the same time, there are fewer homes on the market between November and February. According to the US census, just 25 percent of people move during these months.
The result is that there is less inventory to check out but you’ll get a better deal on the house you find. Talk to one of our Sabal Homes experts about our inventory at Hidden Reserve and FishHawk Ranch. We will inform you on the availability of homesites in both communities.
Did you know there is a sweet spot when it comes to buying a home? When August and September roll around, a lot of houses still remain on the market, but sellers are getting increasingly desperate to push their move through. This means, there is a good inventory to choose from, but prices will be more favorable for buyers.
Houses that have been on the market all summer may have been overpriced. Now, as pressure mounts on sellers to get out they will be more open to negotiations in price or concessions. We can help you with finding your sweet spot with Sabal Homes in the Brandon area.
No matter the time of the year, it remains the case that buying a house is a personal decision. Keep an eye on the interest rates because they remain at historic lows. It may be that with interest rates so favorable, buying in the peak season of mid-summer is a better choice for you.
If you find your dream home in a place like FishHawk Ranch in the middle of February then go for it! At Sabal Homes, we understand it’s your big decision after all. We are here to guide you in getting or building the home of your dreams.
If you’re ready in the height of summer to buy a house in gorgeous Hidden Reserve, what’s stopping you? Act now to take advantage of the low interest rates.
As you can see, the different times of the year can affect available inventory and price. But when you’re ready to buy a house, you’re just ready.
Keep in mind that you might get a better deal in the sweet-spot months. Plan if you can, so that you know what’s out there and when you might want to move.
If you’d like to learn more about our dream homes and when to purchase them, give us a call today.