10/10/2021
“Early October is the Sweet Spot for Buyers”
Are you looking to buy a home? If so, we’ve got good news for you!
There are clear signs buyers may have more opportunities this fall. According to realtor.com, the sweet spot for buyers is early October.
So, what’s that mean for you?
The number of homes available for sale should increase. The findings estimate we’ll see roughly 17.6% more homes available than we saw at the start of the year.
Fewer Bidding Wars
With more homes available, you should also see a slight decline in the number of bidding wars. Having more options means buyers may not be competing as intensely for the homes on the market because there are more choices to go around.
This means when you write an offer, you may have less competition and a better chance of being the top bid. Just remember, it’s still important to come in with a strong offer.
Adjusted Homes Prices
As we move into the end of the year, the findings from realtor.com note the week of October 3-9 will also be one of the peak weeks for price reductions in 2021. Historically the data shows an average of 7.0% of homes have a price reduction that week. Why? When housing supply ticks up, sellers need to look for other ways to make their house stand out.
This means, while home prices are still appreciating overall, you may see some homes with price adjustments from eager sellers. The process of closing a house takes time. To close before end of year, sellers may be more motivated this October.
If you’re in the market for a home, don’t lose steam now. Data shows early October may give you the long-awaited opportunity to find the home of your dreams.
Let’s connect so you have a trusted ally and advisor to help keep you motivated so you can find the perfect home for you!
