In general, there are three ways to evaluate the best time to buy a home:
- Best month: In every real estate market, there’s always a best month to buy a house or best season to buy — even in a down market.
- Best year for market and economy: Broader market trends, the state of the economy and your local job market can also dictate a better or worse time to buy.
- Best time for you: Market characteristics aside, you should plan to buy when it makes sense for your personal finances and moving timeline.
When is the best month to buy a house?
Late summer is the best season to buy a house if you want a shopping experience with enough inventory to find a home you love, while benefiting from sellers lowering prices before the fall. Therefore, the best month to buy a house is August.
Generally speaking, buyers