Real estate buyers prioritize trade-offs

Don't hold out for the 'perfect' home

Learn the New Luxury Playbook at Luxury Connect | October 18-19 at the Beverly Hills Hotel

Anecdotal evidence suggests that we're moving into a summer slowdown. It's not unusual for the home-sale market to begin to slow during July and August, when many real estate agents and buyers are on vacation -- those months, though, still tend to have higher sales than most other months. The market often picks up again after Labor Day, and October can be a good month for home sales.

A slower market shouldn't deter you from beginning or continuing your home search, as long as you have realistic expectations. Some real estate agents advise their seller clients to hold off on marketing their homes in August. This means there might be a slowdown in new inventory coming on the market and fewer new listings for you to consider.

Patience is the name of the game in today's real estate market. There are many uncertainties about where the market is heading. Many economists think we've hit bottom, price-wise. But we may not see a significant improvement in...