DataMarketing

When is the best season to buy a home?

NerdWallet study reveals homes prices are 8.45 percent less in January and February
  • Home sale prices are highest in the summer, softer in the fall and lowest in the winter.
  • On average, homes cost 8.45 percent less in the months following the holidays compared to summertime.
  • The biggest difference between sale and list price is in October, at an average $18,943.
  • For 29 metros, January held the least expensive home prices.

Timing is everything, especially with a major investment like a home purchase. Given that every market fluctuates slightly different depending on the season, gauging the opportune moment is tough. However, a homebuying study from NerdWallet shows the best time to buy is generally in the wintertime. The financial advice website analyzed two years of realtor.com listing and sales data for the 50 most popular U.S. metros, showing home sale prices are highest in the summer, softer in the fall and lowest in the winter. In 48 states, January and February exhibited the lowest prices compared to the rest of the calendar year. On average, homes cost 8.45 percent less in the two months following the holidays compared to summertime. Nationally, the average list price grows to $281,867 in June and drops to $258,272 in January, the study says. Seasons and negotiating power Although moving in the summer can be ideal because of warm temperatures, vacation time and approaching schoo...