The majority of home sellers list in April. According to Zillow, April sees the highest number of new listings on average in the U.S. That same month is also considered the most competitive for finding and buying a property. While the business of the spring real estate market probably isn’t shocking, how strongly the numbers fluctuate just a few months later may be more surprising.
Zillow’s report shows that August is the month with the most inventory available. It’s also the month where the most discounts are made on available properties. Sellers are weary of the winter months ahead, school starting, and house hunters taking a step back from the market. Prices will begin to drop, with Zillow noting a 15.1 percent discount rate during the month. Again, different real estate markets will see variations of these numbers, but on average, August is one of the best times of year to buy real estate.
Winter Real Estate Season
August may be the month with the most inventory, making it easier to find good properties for your investment portfolio, but the winter season offers the lowest prices on available properties. October through December is typically a slow-moving season for sellers. There are fewer house hunters on the market and few sellers want to list their property in the middle of the holiday season.
Winter is one of the best times to purchase a real estate investment property. Often the sellers are more motivated than in the warmer months, and a lack of potential buyers means you’ll face less competition. Zillow’s report notes November as the least competitive month when searching for a real estate deal. October and November are also noted as a highly-discounted months.
While the summer months are much more competitive, there’s no need to take yourself out of the bidding game completely. Many sellers will be tempted by a cash offer or the opportunity for a quick close. If you have the availability to buy a property with cash rather than going through a lender, the seller may be willing to accept a lower bid knowing you won’t have a financing contingency.
Saved
