According to new data from Realtor.com, homebuyers can get a better bang for their buck if they purchase during fall and winter seasons instead of during the peak seasons of spring and summer.
Chief economist for the real estate website Danielle Hale explains that August and September typically have the biggest listing price cuts of the year. "Make no mistake: It's still a sellers market in many places, but we're starting to see the tide shift," says Hale. Real estate agent Bill Gassett adds that even though there is generally less inventory in the fall than in other seasons, sellers are more aggressive in attempts to capture buyer attention as demand dwindles, per Bankrate for CNBC.
Buying a home in the spring and summer these days looks like something you'd see out of "The Hunger Games." For sellers, it's the golden opportunity to get the most return on their real estate investment. Buyers, on the other hand, might feel like they're in a gladiator ring. A lack of affordable homes in many markets, along with fierce competition, rising prices and higher mortgage rates, have sidelined many buyers this year.
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