The question of whether or not it’s smart to buy a house in the summer is one that has to be answered on an individual basis. It might depend upon the house and the price. If the house is up for sale and the price is really good, then it would make sense to purchase the house, regardless of whether it is spring, summer, fall or winter.

  1. Price

    • While there is no actual best season to either buy or sell a home, prices contract during the late summer and late winter months. This is because most of the homes that are on the market go on with spring contracts and those contracts are up by the end of summer. When this happens, it becomes a buyer’s market.

    Economy

    • A buyer’s market takes place when the number of sellers is greater than the number of buyers. In economic down cycles, housing usually becomes a buyer’s market. This is because when the economy hits a slump, new homes don’t get built as quickly. A buyer with a solid credit history who can afford a house is in a very good position, regardless of the season.

    Winter Wonderland

    • Some realtors believe that winter sellers tend to be more motivated to sell than summer sellers. One reason might be that winter sales tend to be on the low end, since people don’t like the idea of trying to sell a house in winter. Therefore, houses for sale in the winter usually have very motivated sellers. Of course, the tradeoff for house hunting in the winter is that while the bargains might be greater, the selection might be fewer.

    Spring

    • Most houses put on the market are listed in the spring. This is because most homes are sold in the spring and early summer, due to a combination of factors. After the winter months, spring renewal can highlight such features as landscaping. This might make the home more attractive to a potential buyer. In addition, income tax rebates typically come out in the spring and can be used to help purchase a home.

    Motivation

    • It’s possible that a summer seller might be motivated to sell, depending upon individual circumstances. For example, if there is a job relocation situation, the seller might be more open to negotiation to expedite the sale. Once again, the actual individual circumstances of the house being on the market are more important than the actual season.