Buyers face stiff competition in the spring, but in the summer they are more likely to snag homes at a discount
While the spring has the most newly listed homes on the market, the savvy buyer needs to keep cool and wait it out.
Zillow found that while the spring, particularly April, has plenty of new homes to choose from, it is also the time of year when buyers face the strongest competition. Homes sell faster and at a higher premium, and buyers run the risk of coming up empty handed.
The late summer is the best time for buyers to make their move. Sellers start to feel the heat, and want to make a deal before the school year starts and cold weather kicks in. Many homes can be purchased at a discount.
And the combination of new homes initially listed in summer and these leftover spring listings means there’s almost as much overall for-sale inventory at the end of summer as there is during spring. In fact, there were more active U.S. listings on Zillow in August of last year than in June, and September wasn’t too far off. This is true for most of the largest metros as well.