When Is the Best Time To Buy a House? Expert Tips for Homebuyers
Successfully navigating the housing market depends on both financial readiness and strategic timing. While home prices, inventory, and competition fluctuate throughout the year, recent trends suggest that early fall is the best time to buy a house if you prioritize financial savings.
A Realtor.com study found that buyers in 2024 who signed between September 29 and October 5 saved an average of $14,000 for homes priced around $445,000.
While this opportunity can certainly provide an edge for buyers, timing a home purchase to one perfect week isn’t always realistic. Read on to better understand seasonal market patterns, explore how external factors disrupt long-held norms, and weigh the pros and cons of buying in any season.
Seasonal housing market snapshot
The housing market moves in relatively predictable cycles. According to the National Association of Realtors (NAR), you can expect the following fluctuations:
- Spring and summer see increased activity in existing and new home sales, typically when most houses go on the market, driving up inventory and competition.
- Fall and winter months typically experience a slowdown in market activity, which offers buyers negotiation opportunities due to reduced competition.
It takes an average of 30 to 60 days to close on a home after an offer is accepted.
That means, if you hope to move into your new home before summer, plan to start your home search in late winter or early spring. Want to be in by the winter holidays? Late summer or early fall is a great time to start looking.
Dig in to each of the seasonal breakdowns below to help you determine the best time to buy a house based on your goals and circumstances.
Spring and summer: Most competitive home buying seasons
For many homebuyers, spring and summer are the perfect seasons for a major move. The nice weather offers blooming curb appeal, longer daylight hours for showings, and the promise of settling in just in time for backyard barbecues or the start of a new school year.
But this seasonal buzz comes with a tradeoff: More home listings and buyers flooding the market means more competition. This can sometimes push buyers to stretch beyond the original asking price, waive important contingencies, or even skip inspections to compete.
Tips for spring and summer homebuyers:
- Get pre-approved, not just pre-qualified. This shows sellers you're serious and ready to move.
- Have flexible closing timelines. A seller juggling their move may favor an offer with some wiggle room.
- Work with an experienced real estate agent. Someone who knows the seasonal rhythms of your local market can help you act quickly and negotiate smartly.
- Make a clean offer with minimal contingencies. For example, while potentially risky, a buyer might waive the right to a home inspection to make their offer easier on the seller and more competitive.
- Know your budget and stick to it—even when emotions run high. If you’re pushed beyond your financial means, that’s a sign it’s time to walk away.
While finding the right house in a competitive market can require concessions, it’s important to know when to make a stronger offer and when to move on. This can save significant financial and emotional strain down the line.
For instance, if the seller refuses to pay for major repairs or denies important concessions, carefully consider if the long-term costs outweigh the benefits of this particular house.
Pros: Spring and summer home buying | Cons: Spring and summer home buying |
|---|---|
More homes on the market | Higher likelihood of bidding wars |
Better weather for moving and showings | Listings could go fast, making it difficult to tour homes |
Great timing for families before the school year starts | Homes may sell above the asking price |
Immediate access to outdoor features like patios and pools | More offers on a property may mean you sacrifice important contingencies to compete |
Winter and fall: Least competitive home buying seasons
Fall and winter may not be traditional moving seasons, but they can offer hidden advantages for buyers willing to brave the off-peak market. It’s also a quieter, cozier time to make a house feel like home. Picture moving in just as the leaves turn golden or settling into your new living room with a crackling fire and holiday decor.
With fewer buyers shopping, sellers are often more motivated to make a deal. That can translate into price negotiations, seller concessions, or more ideal closing timelines.
Tips for fall and winter homebuyers:
- Build a timeline for possible HVAC upgrades, insulation fixes, or energy efficiency improvements. This home maintenance checklist can help you get started.
- Schedule inspections wisely. Ask about infrared scans or thermal imaging to catch what might be hidden beneath the surface.
- Factor in shorter daylight hours. You may need to tour homes earlier in the day to see the property in full light.
- Be prepared to move in poor weather. While not ideal, fall and winter often come with colder temperatures, icy sidewalks, or snowy terrain.
Winter snow or rain can also make inspections more challenging, especially when examining the roof, exterior, or landscaping. Heating systems, insulation, and windows should also be closely inspected since repair needs can carry seasonal urgency.
Pros: Fall and winter home buying | Cons: Fall and winter home buying |
|---|---|
Less competition from other buyers | Fewer home listings on the market to choose from |
Potential for better pricing and negotiation leverage | Weather can impact inspections and move-in logistics |
Sellers are often more motivated to sell due to lower competition | Limited curb appeal may make it harder to assess outdoor features |
Quieter market allows for more time to make thoughtful decisions | Potential for cold-weather-related maintenance issues |
Key market indicators to watch, regardless of the season
It’s important to consider economic signals influencing home affordability and availability, beyond seasonal considerations. For instance, interest rates significantly affect how much home you can afford. Even a small shift in rates can affect your monthly payments and how competitive you can be in a tight market.
Before you start browsing listings, check current mortgage trends from a reliable source like Freddie Mac or Bankrate.
That said, looking beyond national averages and reviewing your desired neighborhood’s market is also important. Dig in to local reports: days on market, median sale prices, supply-demand dynamics in your target area, etc. These could help you understand when it’s time to move quickly and when to hit pause on your home search.
Smart buyers think bigger: Non-market factors that matter
Factors like insurance availability, school calendars, and local infrastructure can shape how well a home fits your life. Look beyond the listing and focus on long-term livability.
Home insurance availability and extreme weather risks
According to The New York Times, Americans are increasingly flocking to areas that are more vulnerable to extreme weather, even as many insurers pull back from these markets or raise premiums.
These migration patterns highlight how short-term affordability may win out over long-term climate risk. This phenomenon, referred to by some as a “climate bubble,” is driving demand in high-risk regions where homes remain relatively affordable.
Some experts warn that as climate threats intensify, these areas could face a sudden re-pricing, potentially leaving homeowners with reduced property values and rising insurance costs. If you're looking at homes in these areas, consider the availability and cost of home insurance or repairs from severe weather events.
These home insurance tips for buyers are a good place to start. You can also check the Hippo Insurance Map for insights on how home location can affect your premiums, eligibility, and more.
Generational home-buying considerations
Your stage of life can strongly influence when to buy a home and what type of property makes the most sense. Each generation brings its own set of priorities to the home-buying process.
- Younger homebuyers, like those in Gen Z, are just beginning to enter the market, but many are facing challenges like high housing costs and competition. The best time to buy for this demographic may not always be in the traditional peak seasons. Instead, consider smaller homes or condos during the fall or winter, and be ready to act quickly when the right opportunity appears.
- Middle-aged homebuyers could consider buying when mortgage rates stabilize post-inflation. First-time buyers should also prioritize homes meeting current and future lifestyle needs, considering starter homes that still offer room for growth.
- Older homebuyers, such as empty nesters or those considering a property for retirement, are often looking for homes that can accommodate changing family dynamics. People in this group may be able to invest in their dream home. If that sounds like you, consider buying a home when inventory is high in the spring or summer.
Property taxes, HOA fees, and cost of living
Property taxes and HOA fees can vary dramatically by ZIP code and directly impact monthly housing costs. States like New Jersey, Illinois, and Texas consistently rank among the highest for property tax rates.
Before you make an offer, research local tax rates and fee structures to get the full financial picture. Bankrate also offers a Cost of Living Calculator, so you can be more prepared before you fall in love with your dream neighborhood.
Commute times, infrastructure, and access to amenities
Convenience matters—especially if shorter routes can add hours to your week. When choosing a home, consider road quality, public transit options, broadband access, and proximity to essentials like grocery stores, hospitals, and schools.
These details may not appear in the listing, but they can significantly impact your daily life and ease the transition during your first year of homeownership.
A better way to buy, with protection built in
A successful home purchase is about making sure your home fits your lifestyle, financial plans, and risk tolerance over time.
To help first-time buyers make confident decisions, the Hippo Learn Center offers straightforward guides on how homeowners' insurance works, what impacts your rate, and what coverage typically protects.
Ready to move forward with the protection you need? Explore homeowners insurance from Hippo and get coverage tailored to your needs.
Download our seasonal home-buying tips
Considering a move? Download our seasonal guide for tips to help you secure the home of your dreams during any season.
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