I’m discussing why there isn’t ever a “best” time to buy or sell a home. It always depends on a combination of factors.
When is the best time to buy or sell a home? Honestly, this is one of the most frequently asked questions I receive.
First, I want to challenge the idea that there is a “best” time to buy or sell. Here’s why: Mortgage rates fluctuate daily, jumping around much quicker than the overall housing market. Even a slight change in rates can make a large difference in home prices. This makes it difficult to consider any time the “best time” to buy or sell. Whenever you are contemplating buying, take advantage of rates while they are low.
That’s not all. Statistics are only part of the story. National and state real estate trends average millions of transactions. When you boil them down to just a few numbers, lots of details get lost. Home prices and the demand for houses can vary from county to county—even neighborhood to neighborhood. When it comes to market conditions, the best time to buy or sell typically varies depending on location; you need to look at local conditions first.
“I want to challenge the idea that there is a ‘best’ time to buy or sell.”
You need to buy or sell a home when it is the best time for you. Your circumstances matter. Your goals, family situation, and financial outlook matter enormously when deciding when to buy or sell a home. This is the beginning of a new period of your life.
You may be disappointed that I don’t have a simple answer for you about the best time to buy or sell a home. However, I hope you’ll agree that there is no plain answer. That’s not to say there isn’t a way to make an intelligent decision about the market.