In this past spring and summer the demand from homebuyers was extremely high and the housing stock was extremely low. This resulted in multiple offers on homes, shorter days on the market for sale homes, and, of course, rising prices.
Westminster, CO (PRWEB) September 12, 2016
Homebuyers are coming to realize that fall is a better time than spring or summer to be a buyer in today’s housing market. “Housing is like every other market: Prices are driven by supply and demand,” said Matt Studzinski, a broker associate with RE/MAX Alliance. “In this past spring and summer the demand from homebuyers was extremely high and the housing stock was extremely low. This resulted in multiple offers on homes, shorter days on the market for sale homes, and, of course, rising prices.”
As we come into the fall season, Studzinski shares the following five reasons why it is the optimal time to buy a house:
No. 1: Balanced housing market. “Homeowners in the earlier part of the year who wanted to sell their homes but had repairs or other cosmetic improvements to make before being able to list their homes have finally gotten through those tasks and many more homes have found their way to the market,” said Studzinski. “In the meantime, some potential homebuyers got frustrated with the home-buying frenzy earlier in the year and gave up and signed new leases. They are no longer in the market.”
No. 2: Less competition. Due to other potential homebuyers now being distracted with back-to-school activities, keeping them from actively looking, there is less competition. “So now supply is up and demand is down,” added Studzinski. “This results in flatter pricing and a better market to be a homebuyer.”
No. 3: Low interest rates. Due to a slowing world economy and the recent Brexit vote, interest rates are at historic lows. “This results in more purchasing power for you, the fall homebuyer,” said Studzinski. “These low rates are expected to remain very low, at least through the end of the year, so take advantage of it.”
No. 4: Motivated Sellers. “At this time of year, sellers are aware that the holidays are coming up and the number of active buyers will decrease further,” said Studzinski. “If their homes are not under contract by mid-November, they may not see an offer until after he New Year. They would also like to avoid a move in mid-winter when the chances of having to move during a bad weather event increases; therefore, they may be much more willing to look at a somewhat low offer from you.”
No. 5: Year-end sales. “Lastly, by purchasing your new home in the fall you can take advantage of year-end sales on items such as lawnmowers, furniture, and housewares,” concluded Studzinski. “While everyone else is buying traditional Christmas presents, you can be getting great deals on items that generally sit on the shelves at this time of year.”
About Matt Studzinski, RE/MAX Alliance
Veteran real estate professional Matt Studzinski works with buyers and sellers alike. Matt’s specialties include buyer brokerage, seller brokerage, condominiums, foreclosure properties, horse properties, investments, luxury homes, new construction, relocation, and short sales. For more information, please call (720) 255-4663, email Matt at Matts(at)remax(dot)net or visit http://www.homesincolorado.com/matt-studzinski. The office is located at 9737 Wadsworth Pkwy., Westminster, CO 80021.
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