Does Back to School Really Mean the End of the Real Estate Buying Season?
We’ve all heard the widely held belief that back to school signals the end of the home buying season. The reasoning goes that, once children are back in school parents are less likely to uproot the family. Back to school also means the end of Summer. Those without children to consider will tell you this means the holidays are right around the corner, and no one wants to buy a home during the hectic last quarter.
Both of these bits of sage wisdom, or some variation thereof, are passed to you from friends and family members, potentially discouraging you from listing your home, or beginning a house buying hunt, at any time past September. It turns out that many of these “helpful” or “well informed” pieces of advice aren’t based in any real life statistics.
The Second Best Time of Year
While Spring and early Summer are great times for home buying and selling for families looking to settle into a neighborhood before the school year begins, it turns out that Fall attracts buyers for different, but equally compelling reasons.
Selling your home in autumn is the second best time of year. Vacations are over, families are back into routines, and the holiday season is still far enough away to let us ignore. Inventories that declined over the summer months pick up. Home sellers are generally more negotiable as they see the days shorten and serious buyers are looking for that special home for the thanksgiving buffet. If you are considering a move now is a great time.”
Less Bidding and More Serious Buying
If the thought of entering the Spring time home buying spree leaves your head spinning, it turns out you aren’t the only one with the aversion. Buying a home in the fall can mean less competition and less of a chance of getting into an emotion fueled bidding war. But don’t think that means that there are fewer quality properties on the market.
Sellers in cooler climates will want to get their relocation out of the way before the snow and ice moves in. The end of the year is also a common time for companies to hire, or relocate their employees. Some sellers will also prefer to hold out listing their home until after the spring and summer season is over, hoping their property will get more attention once the market has leveled off.
Let’s Talk About That Whole School Thing
As it turns out, fewer couples and homebuyers nowadays have minor children in the home to consider. So while the whole concept of back to school equaling the end of the home buying and selling season may have been more relevant 20 or 30 years ago, the majority of those in the real estate market today don’t even have children to consider.
If you’re seriously considering buying or selling a home, any time is the right time. With a wide selection of listings available near you, consider speaking with a W Realty agent and get your home search underway.