When is the Best Time of Year to Find a Great Deal on a Home?

When should first time home buyers purchase a home?If you’re in the market for your first home, decisions like where to buy, what can you afford, and who to work with all need to be made sooner rather than later. But along with all that, deciding when the right time to buy is also an under-appreciated component to the home buying process that shouldn’t be overlooked.

As you might’ve already heard, common belief is that the best time to purchase a home is sometime during the spring or summer, when inventory tends to be at its strongest.

But believe it or not, the fall season can also be an optimal time to find and get a great deal, which might be surprising to some soon-to-be home buyers out there.

According to an analysis from RealtyTrac that considered 32 million home sales over 15 years, buyers, on average, paid 2.6 percent below estimated market value at the time for their homes. And while that may not seem like a big deal, 2.6 percent of a $200,000 or $300,000 home is literally thousands of dollars in savings.

So as you begin the to find that perfect new home, remember the fall season may just present you with the best deals out there.

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