The BEST Time To Buy A House to Get The Best Deal

What is the best time of year to buy a house? The answer may surprise you.

Buying a home isn't just kind of a big deal. In fact, it's oftentimes the biggest deal you will ever do in your life. You want to find your dream home, but you also want to make a smart financial decision... it's a delicate balance.

Now, of course, the best time of year to buy a house is when the time is right for YOU and your circumstances.

However, if you have flexibility and you want to be strategic about things, then there actually IS a "best month to buy a house".

To get the best deal and the most bang for your buck, consider buying a house in the Fall. October, in particular, is one of the best times of the year to buy a home. Here's why.

5 Reasons Why Fall is the Best Time to Buy a House

#1: Increased Housing Supply

Statistically, the number of homes for sale should increase this month. The findings estimate that we will see roughly a 17 plus increase in home inventory. So if you're a buyer, that means you may just have more options to choose from. Which is a welcome relief to those who have been searching for a while.

#2: Fewer Bidding Wars

With more homes available in the market, you should also see fewer bidding wars. Having more options obviously means less competition because there are more choices to go around. That means that when you find that home you want, there's probably going to be fewer buyers competing with you. Just remember, if you want to make sure you win that home - especially here in the Austin area where things are still hot - you should still make that offer strong. Very strong.

#3: Adjusted Home Prices

As we move towards the end of the year, you might even see some price reductions. Data shows on average, 7% of homes have a price reduction.

Why, you ask?

Because sellers know if the inventory in homes goes up, they have to find ways to make their house stand out above all the other ones. Now, while home prices overall are still appreciating, you may see some anxious sellers wanting to compete more, so they might drop the price of the home.

As you may know, process of actually buying a home can't take some time. So you're going to see more sellers eager to sell their home if it's approaching the end of the year. You may even see some price reductions if a house hasn't sold quickly after its listed.

#4: Less Buyers at Open Houses

You'll likely notice if you go to open houses that there's a lot less people perusing around the homes, which could signal less demand and an opportunity for you to get your offer accepted.

#5: The Holidays

In general, people are already in holiday mode by the time October rolls around. I know we are... Halloween! People are planning festivities and travel for the next three months, and many don't want that extra stress of moving during the holiday with so many other things going on.

And here's a BONUS reason for ya:

If the home hasn't sold by November, it is likely that you'll see more motivated Sellers. Not many Sellers like showing their home during the holidays. (Can you blame 'em?)

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If you want to see what homes are available in the Austin area right now, search our site here. We have THE most up to date and accurate home data in the area. You can also set up a saved home search, and sign up to receive automatic e-alerts whenever a new home comes on the market that matches your search.

Happy house hunting!