10 Reasons to Buy a Home in the Summer

Buying a home? Here are 10 reasons why summer is the best time to buy a home.

  1. After many months of low inventory and a limited selection, inventory is up and selection is improving.
  2. Interest rates remain at historical lows.
  3. Competition from other buyers decreases during the long hot summer as buyers take time out to go on vacation and relax.
  4. The frequency of multiple offers is waning.
  5. With reduced buyer activity, sellers become more motivated.
  6. As days on market lengthen, buyers have time to look more carefully at the homes they want to purchase before making an offer.
  7. Lenders are also experiencing a reduced volume, so there are more incentives for buyers in the form of reduced closing costs.
  8. Motivated sellers are not now pricing their homes higher than the last comparable sale.
  9. Motivated sellers may now consider offers below asking price.
  10. Motivated sellers may now incentivize buyers with rebates and or money towards closing costs.