As a buyer, you’ve likely braved bidding wars as you’ve searched for your dream home. If you have found yourself a bit discouraged, hear this: there are clear signs buyers may have more opportunities this fall. Experts determined the best time to buy in 2021 is the week of October 3-9. This week historically has shown the best balance of market conditions that favor buyers. If you’re looking to buy a home, there’s a golden window of opportunity coming. Here’s what you can expect from that week:
Increased Housing Supply: The number of homes available for sale should increase.
Fewer Bidding Wars: With more homes available, you should also see a slight decline in the number of bidding wars. This means when you write an offer, you may have less competition and a better chance of being the top bid. Just remember, it’s still important to come in with a strong offer.
Adjusted Homes Prices: As we move into the end of the year, this week may also be one of the peak weeks for price reductions in 2021. The process of closing a house takes time. To close before end of year, sellers may be more motivated this October.
Farr Group TIP: If you’re in the market for a home, don’t lose steam now. Early October may give you the long-awaited opportunity to find the home of your dreams.