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When is the Best Time to Buy a Home

When is the Best Time to Buy a Home

Photo by Maximillian Conacher on Unsplash

Buying a home can be the greatest financial acquisitions of a lifetime, so it is important to be selective with the process and be aware of market conditions. Exploring the best time of year to buy a home is an important aspect of the purchasing processing and often becomes an afterthought when polishing up the credit report and stashing away the down payment.
The most important condition for determining when to buy a new home should depend on your personal situation to ensure you are ready from a financial and lifestyle perspective. When the down payment has been accumulated and the interest rates are right, it is now time to examine the real estate market trends.

Typically, the late summer months of August and September are prime for buying a home. This rationale is due to the large enough inventory in the market and the decreasing costs of home values as sellers try to sell before winter. In Florida, seasonality in the real estate market has less of an effect from the weather when compared to other parts of the country, however data has shown that the median home sale price in the sunshine state is lowest in January & February.

So why not buy in the late winter months for additional cost savings? The problem with waiting until January to purchase a home is the lack of options on the market. If you don’t mind exchanging selectivity for price, then you could be a prime candidate to take advantage of the discounted winter rates. According to analysis on Redfin, median home prices fluctuate more than $10,000 from the spring to winter. These savings are ripe for the taking but only if your willing to sacrifice options, as the inventory is commonly at its lowest during the month of January.

Would you rather be picky with your new home to be? Hard to fault you for wanting to make sure your forever home checks all the boxes. If you don’t mind paying a premium in exchange for the chance at a first look when new homes hit the market, then April is traditionally your time to shop. Spring and early summer are always hot in the real estate market, as the majority of listings hit the market in a short window between April and June. According to Zillow, the months of May and June can have twice as many national listings when compared to December and January.

In searching for the equilibrium between availability and cost, the data suggests that shopping for your new home in the months of August & September would provide you with the greatest opportunity for price cuts while inventory levels are still high. This happy median may very well make for a happy homeowner buy avoiding the bitter feeling of overpaying or settling on a newly acquired Home-Sweet-Home!
Remember, it’s more about personal preference than an exact science, but it pays to know the market trends before putting your first offer in. Whenever you feel the time is right to make your next home purchase, we strongly urge you to properly insure you new asset. Make sure that you speak with a Moore Resources Insurance agent about Homeowners Insurance to properly protect your new purchase!



Moore Resources is an Independent Insurance Agency located in St. Petersburg, FL and offering Homeowners Insurance, Auto Insurance, Personal Insurance and Business Insurance. Our reach extends beyond the Tampa Bay area to the entire state of Florida. Moore Resources has regionally been dedicated to serving the local residents of Pinellas, Hillsborough, Polk, Pasco, Manatee and Sarasota counties; including St. Pete, Tampa, Clearwater, Bradenton, Brandon, Dunedin, Gulfport, Lakeland, Largo, Lutz, Palm Harbor, Pinellas Park, Riverview, Ruskin, Seffner, Seminole, Temple Terrace, Tierra Verde, Town n Country, and the Gulf Coast Beaches.

The purpose of this blog is to present general information only. It does not interpret specific policies or coverage. In order to obtain detailed information regarding your insurance, contact a licensed insurance agent.