Your personal home-buying schedule doesn’t have to correspond with the real estate market! In fact, buying during the “off season” can yield tremendous advantages.
The “off season” differs depending on your specific location, but always refers to the period of time during a calendar year when both inventory and competition are low. Usually, this corresponds with the weather conditions in a particular area.
If you’re going to buy a home, you may just want to begin looking for your dream home during this period of market inactivity. Here’s why:
There’s Less Competition
During the off season there are typically far fewer active buyers looking for homes, as most buyers prefer to look for homes when the weather is great or their kids are out on summer vacation. If you’re searching during the off season, you won’t feel as much pressure from other buyers looking at the same homes as you.
This gives you plenty of time to tour homes, think about them, and come to a decision about whether or not you want to put an offer down.