Whether you’re buying a starter home or are a first-time real estate investor, it’s worth understanding the cyclical nature of the market and how to use it to your advantage. The Gilbert Realty team advises locals in Mountain Home, AR, about the best times of year to buy or sell their homes. To get you started, they share some insights into the topic.
How the Market Cycle Works
Each spring, the real estate market becomes increasingly active. Sellers put their homes up as soon as the weather starts to warm, and buyers begin getting approved for loans and visiting open houses. The busy season lasts through the summer until about September, when it winds down. Families don’t want to move during a new school year, as it disrupts their kid’s schedule, so they tend to make their purchases in the spring and early summer. Activity slowly reduces over autumn, dramatically decreasing as the holidays roll around and people become preoccupied with buying gifts and celebrations.
What It Means for You
Price wise, the best time to purchase a house is during the fall and winter. There aren’t many buyers to compete with, so homes tend to spend more time on the market. For this reason, sellers become increasingly motivated and respond quicker to bids rather than testing to see the offers they get. If you’d like to see more options, however, then inventory is much higher in the warmer seasons. The competition will also be fiercer, so you’ll likely encounter competing offers on the home you’re interested in.
These are just a few of the many factors impacting the real estate market. To determine the best time to buy a home, turn to the team at Gilbert Realty. They know the local market well and help clients strategize the right approach to ensure a smart financial and personal decision. Whether you want a luxury lakefront property or a deal on a foreclosure home, they’ll provide the necessary expertise and resources to find the dream choice within budget. Reach out online or call (870) 425-6282 to schedule an appointment with a knowledgeable real estate agent.