{"id":6413,"date":"2022-09-26T21:32:40","date_gmt":"2022-09-27T02:32:40","guid":{"rendered":"https:\/\/www.morty.com\/resources\/?p=6413"},"modified":"2022-09-27T15:41:00","modified_gmt":"2022-09-27T20:41:00","slug":"does-homebuying-have-seasons","status":"publish","type":"post","link":"https:\/\/www.morty.com\/resources\/the-morty-report\/does-homebuying-have-seasons","title":{"rendered":"Does homebuying have ‘seasons?’"},"content":{"rendered":"\n

Seasons change, but do they change the market, too?<\/h2>\n\n\n\n

Whether it\u2019s the end of a lease or the start of a new job, there are often deadlines driving the home search. But regardless of what\u2019s on the calendar, buyers almost always want to know about seasonality and whether it\u2019s the \u201cright\u201d time of the year to buy. <\/p>\n\n\n\n

We typically see activity drop slightly this time of year with summer winding down and school back in session. But the relative influence of seasons on the market has shifted in this post-pandemic market: More buyers are now prioritizing affordability<\/a>, focusing on how they can best access the market instead of seasonal factors.  <\/p>\n\n\n\n

Seasonality may always play into buyer activity. But whether or not it\u2019s the right<\/em> time of year to buy depends more on factors like your location, or the need to consider school schedules. Today\u2019s reader question takes a closer look at how to reason with the seasons. 

– Robert Heck, Vice President of Mortgage @ Morty<\/a><\/p>\n\n\n\n

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Reader question of the week<\/strong><\/h3>\n\n\n\n

\u201cI\u2019ve heard that late spring and summer are considered the \u2018busy season\u2019 for buying and selling homes. I want to buy a bigger house for my family of five, but am I too late to get in on \u2018purchase season?\u2019 Is inventory too limited now?<\/em>\u201d \u2013 Lucy J., Evanston, IL<\/p>\n\n\n\n

It\u2019s fair to be concerned about inventory and how it\u2019ll affect your options, but it really shouldn\u2019t be the single factor that dictates your homebuying journey. Inventory remains relatively low across the country, but it doesn\u2019t have to be a blocker \u2013 especially since you\u2019re only buying one home. <\/p>\n\n\n\n

Seasonality also isn\u2019t the primary driver of inventory. While historically, the fall can be a slower season for homebuying, there are several reasons why this fall may actually be a smart time to shop<\/a>: <\/p>\n\n\n\n

    \n
  1. The rush of families looking to purchase homes before the start of the school year has died down. That means fewer competing offers and less pressure to move quickly. <\/li>\n\n\n\n
  2. Sellers who listed their homes during the spring and early summer and still haven\u2019t sold may be more inclined to negotiate.<\/li>\n\n\n\n
  3. If you\u2019re buying in an area like Chicago with extreme winter conditions, there\u2019s a definite advantage to getting into a new home before the sub-zero temperatures hit.<\/li>\n<\/ol>\n\n\n\n

    But instead of trying to time the market, ask yourself why <\/em>you\u2019re buying, and build a timeline that makes sense for your individual situation<\/a>. With a schedule built around your specific needs, you\u2019ll be set up for success \u2013 no matter the weather!<\/p>\n","protected":false},"excerpt":{"rendered":"

    Seasons change, but do they change the market, too? Whether it\u2019s the end of a…<\/p>\n","protected":false},"author":30,"featured_media":6415,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"content-type":"","_lmt_disableupdate":"yes","_lmt_disable":"","_kad_blocks_custom_css":"","_kad_blocks_head_custom_js":"","_kad_blocks_body_custom_js":"","_kad_blocks_footer_custom_js":"","_kad_post_transparent":"","_kad_post_title":"","_kad_post_layout":"","_kad_post_sidebar_id":"","_kad_post_content_style":"","_kad_post_vertical_padding":"","_kad_post_feature":"","_kad_post_feature_position":"","_kad_post_header":false,"_kad_post_footer":false,"footnotes":""},"categories":[611],"tags":[79,564],"series":[562],"class_list":["post-6413","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-morty-report","tag-first-time-homebuyers","tag-mortgage-rates","series-the-morty-report-newsletter"],"acf":[],"yoast_head":"\nDoes homebuying have 'seasons?' | Morty Resources %<\/title>\n<meta name=\"description\" content=\"What is the "right" time of year to buy a house? 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