The time between Labor Day and Thanksgiving, known as Fall, is best spent outside since this is usually when Southern California experiences its best weather. If you’re in the market for a new home, this poses the best time to stroll neighborhoods looking for your next home. Some prospective home buyers throw in the towel after Labor Day and wait until next spring. Because of this, you will find that beginning your pursuit in September will be to your advantage. Find out how the housing market changes after Labor Day.
- Fall is more of a buyer’s market
The market typically favors the buyer in the fall because the competition declines. As the season begins, families settle back into their routines with school, and home buying is put on hold. If you don’t have school-aged kids or don’t mind moving while they are in school, this is your best season. The market slows down, so negotiating a better deal becomes easier.
- Vacation home-sellers see action
Summer is the vacation season, even Congress breaks for August. After you’ve experienced a particularly fun summer in your favorite vacation spot you may be tempted to buy a home so you can have that experience every year. Perfect for you, you can purchase and have your new home furnished just in time for spring. Purchasing in the fall is also an excellent way to experience your favorite vacation spot in the off-season.
- Like the leaves, home prices fall
People usually list their homes during what they think is the best time of the year to sell, summer. This is because summer is the peak selling season. But when sellers aren’t successful and Labor Day comes and goes, they then have to reassess their asking price and be more open to negotiations.
- There’s no deadline for most fall home buyers
If getting into your new home before the first day of school is no longer an issue, there is no longer a deadline. You might want to be in your home before the holidays, but the stakes aren’t as high. Your deadline is more flexible, especially depending on the financial implications. You may want to be in your new home before Thanksgiving, but waiting may save you money.