Home and land Buyers who are willing to close on a home purchase during the off-peak seasons – like fall and winter – tend to have the upper-hand in exacting, is the best month (September) of this year to sign an agreement to purchase a home, according to his analysis.
For one thing, supply is increasing, given that home buyers with more choices of homes for sale than they have had in the past ten months. In the third week of August, list was at 1.91 million units, an increase from 21 % since January.
Normally record peaks in August and begins to slow as the nights grow longer. But this year the typical seasonal decline will start a bit later. There will be more choices in September than any other month in 2015.
Also, that overall demand is down now that the school year has started so buyers will provide less heavy competition this month (September) too. And, of course, with less competition for the most listings all year, price powers weaken as inventory takes longer to sell.
As an added motivation to home buyers, mortgage rates are left over low, for now. The 30-year fixed-rate mortgage ended the week under 4 % due to Recent Stock Market turbulence. In June, 30-year rates were averaging 4.2 %, but have since fallen.
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