Conventional wisdom says to buy a house in the springtime, as the weather warms and when new listings become more plentiful. But this traditional way of thinking could be misguided if we consider how competitive our real estate market becomes each spring.
Each spring our market is flooded with a huge influx of buyers that far exceeds the supply of available homes and condos. We read articles in the media and we hear stories from friends about bidding wars, insane prices, and missed opportunities. "Buyer burnout" has become so commonplace in the springtime. And yet we always seem a little amazed and somewhat surprised that this cycle repeats itself year-after-year.
You don't need to buy with the herd
If you are planning to buy a home in the next year, you can avoid the herd by beginning your search right now and by purchasing your home before the craziness of the spring market sets in. As we recently posted in this article, the market is more balanced right now and more hospitable to buyers. And although it won't necessarily be easy to buy a home this fall or winter, it will almost certainly be easier than trying to buy a home next spring.
If you are dead set on buying a home next spring, we encourage you to at least explore the possibility of buying during the "off-season". Talk to one of our full-service Madison real estate agents, and tell us about your real estate goals. We'll share our honest opinions and straight advice with you, and help you make an educated decision.
This article is published courtesy of: Dan Miller, REALTOR Mad City Dream Homes & RE/MAX Preferred