If you are looking to buy a home, one of first questions that will come up is: When is the best time of the year to buy a home? The answer to that question could potentially be, right now..this month...September! Multiple factors point to why September could be the perfect month to buy a home:
- The first factor is Supply. Buyers will have more choices compared to the last 10 months. As folks return from Summer holidays, and look to move before winter settles in, inventory is up in September.
- The second factor is Demand. With school underway, families with children already having moved in order to be ready for the school year, there is less competition for desired properties.
- The third and final factor is Low Mortgage Rates. With mortgage rates hovering around the 2.25% for a fixed rate and less than 2% for a variable rate, there's no better time to purchase a house.
Low Mortgage rates, more choices compared to the last few months, less competition and moving before the "harsh winter" sets in, this September could just turn out to be your month to buy a home!