If possible, it's good to buy a house at the time of year when prices are lowest and inventory is highest. Traditionally, that's August or September. Prices usually go down in late summer and early fall, since fewer buyers are looking at homes and inventory is still pretty high after the busy spring selling season.
Keep in mind: The least expensive month of the year to purchase a home is November, when seller premiums are at their lowest. Source: ATTOM Data Solutions. “Winter and late summer tend to be quieter, with a better chance for a buyer to find less competition and a deal,” says DiBugnara.
Nationally, the best time to sell a house to maximize profit is early June, when school is on summer break and the largest number of buyers is out shopping for homes. For that reason, Zillow recommends listing your home for sale in the Spring.
The best time to buy for a good deal
For this reason, November and December can be a good time to get a bargain. Sellers who are under no pressure to move often delist their properties with a view to re-launching in the new year. Those who remain are keen to sell their property and may accept a lower price.
What month is the most expensive month for buying a house? In 2024, April was the most expensive month to buy a home. However, this can vary from year to year. In 2023, median home prices peaked in June.
Typically, winter time is the slowest of the year to sell a property, specifically November, December, and January.
Autumn (September end to November) This is the best season for both home buyers & sellers, this period is aplenty with big Indian festivals and is considered to be a fortunate time in our country to make a big investment.
Bottom Line. As rates came down at the end of the summer, sellers started to trickle back into the market, which means buyers have more choices right now. And working with a trusted local real estate agent is the best way to take advantage of your new options before they're all scooped up.
Many prospective homebuyers chose to wait things out in 2023, in the hopes that 2024 would bring a more advantageous market. But with mortgage interest rates remaining relatively high and housing inventory remaining stubbornly low, it looks like the last few months of 2024 will remain a challenging time to buy a house.
The easiest and most fruitful way for homebuyers and existing homeowners to lower their mortgage rate is to compare rates among lenders, but borrowers can also be opportunistic by taking out a mortgage in January when rates tend to be at seasonal lows.
Home prices are typically at their lowest during the late fall and winter, specifically from October to February. During this period, the real estate market generally slows down, resulting in less competition among buyers.
The 28% rule
The 28% mortgage rule states that you should spend 28% or less of your monthly gross income on your mortgage payment (including principal, interest, taxes and insurance). To gauge how much you can afford using this rule, multiply your monthly gross income by 28%.
Most first-time homebuyers make a purchase when they are 35. Buying a house at a young age can mean building equity young and getting a home paid off sooner. Purchasing a house in your 20s or earlier can also mean you feel trapped, unable to move at a moment's notice.
If you have the means, now may be a good time to buy a house. The median U.S. home sale price recently reached $430,000, continuing 17 months of year-over-year gains. Mortgage rates dipped with the prospect of a government shutdown, but quickly settled back in at around 7% to start 2025.
Bottom Line: The Best and Worst Month To Sell a Home
June is usually the best month to sell a house. It's when you're most likely to reach the most potential buyers and get a price above market value. As a result, on average nationwide, June has one of the highest median sale prices and the most sales overall.
When to Start Looking for a House. As a general guideline, it's advised to start house hunting five to six months before you want to move in. This might seem like a long time, but there's plenty to do. Now, remember, depending on various factors, including the state of the market's, the process may take longer.
Winter is traditionally the slowest season for home sales and, as a result, it's the cheapest time to buy a home. There's usually less competition between buyers and sellers may be more willing to negotiate to make a sale since buyer interest is lower than it is in the spring.
Housing prices peaked in early 2006, started to decline in 2006 and 2007, and reached new lows in 2011. On December 30, 2008, the Case–Shiller home price index reported the largest price drop in its history.
While home values generally appreciate over time, the growth isn't linear. Values grow fasters in some months than in others. And, during the winter months, it's common to see prices dip slightly before rebounding a month or two later. Median prices peak each year in the spring and summer.
According to a study by Zillow, Thursday is the most popular day of the week for sellers to cut their homes' prices. Reducing the price of a house on Thursday gives realtors enough time to notice the price change and inform their clients, just in time for weekend showings and open houses.
June, July, and August are peak home sales season. Housing markets also vary based on location and current mortgage rates.
On the other hand, the worst months to buy a house are from March to August. Housing inventory begins to increase, which attracts a large number of homebuyers. This causes home prices to go up, more homes are sold above the listing price, and the competitive market creates the possibility of bidding wars.
Most homes are listed for sale in the spring and summer, and traditionally, this has been the best time of the year to buy a house. During this period, families bought homes so their children could be enrolled in their new schools before the start of the school year.