Fall Housing Market

buying a home

Most people assume spring is the best time to buy real estate. However, the fall housing market offers some of the best deals for consumers.

According to RealtyTrac October is the best month to buy a house.

  • Fewer Buyers:  School has started and families have slowed their house hunting activities.  Even though there is a shortage of homes for sale in greater Cincinnati, the number of active buyers has also dropped.  
  • Motivated Sellers:  Motivated sellers who want to “move on” before the holidays.  Pricing expectations become more realistic and willingness to respond to decent offers increases.
  • Stable Interest Rates:  Interest rates remain low and will most likely stay that way for awhile.  However, rates are not set in stone and can increase at any time.
  • Motivated Builders:  Looking to build a new home?  Around Cincinnati, some new home sales are slowing and builders are feeling motivated to offer incentives or extras at lower costs.  It might be the right time to think about building versus buying your next home.
  • Lower Home Prices:  Don’t expect sellers to give their homes away.  Price reductions are more frequent as showings and buyers slow down.  This is especially true for sellers who have been on the market through the summer and still haven’t found a buyer.  

It’s a great time for motivated buyers and sellers to make deals.