Here are three big reasons why October is the best month to buy a home.
As we get closer to Halloween, what does our real estate market look like? So far this year, sellers have enjoyed all the treats while buyers have had to try every trick in the book to get their offers accepted. However, a window of opportunity may be opening for buyers, and I want to talk to you about it today.
According to the National Association of Realtors, October has the best balance of market conditions for buyers, and there are a few main reasons why:
1. Inventory has increased. From January of 2021 until now, inventory has increased by 17.9%. Low inventory is one of the main drivers of our crazy market, so higher inventory is great news for buyers. It’s still a seller’s market, but more homes on the market are always good for buyers.
“Because inventory is increasing, buyers have more options. ”
2. There are fewer bidding wars. Six months or a year ago, people were climbing over each other to make offers way over the asking price. This is less the case today, and a big reason for that is the increase in inventory. Buyers just have more options.
3. Sellers want to sell before the end of the year. Whether it’s for personal or financial reasons, a lot of sellers will do what it takes to sell before the holidays and the end of the year. Some sellers are willing to lower their prices and give you a great deal to sell their home quickly, giving you the opportunity to get a home without a bidding war.
The bottom line is that if you are a buyer or renter, this is your window of opportunity. If you have any video ideas, send them my way. If I like your topic enough to make a video out of it, you could win a $25 gift card as a thank you. As always, If you have any questions for me, please call me at (916) 647-7014 or email me at Steven@SherpaHomes.com. I am always looking to help.
