The Best Time To Buy a Home in 2024: Why Early Fall is Your Sweet Spot
As the housing market shifts this season, now is the perfect time to jump back into your homebuying search. According to experts, the best time to buy a home this year is just around the corner, offering a golden opportunity for savvy buyers like you.
When Is the Best Time To Buy?
Real estate experts at Realtor.com have pinpointed the ideal week for homebuyers in 2024. Nationally, the week of September 29–October 5 is expected to provide the best conditions for buyers. Why? This week historically offers a balance of market factors that favor homebuyers:
High Inventory: More homes on the market mean more options to choose from.
Lower Prices: Home prices tend to dip below peak levels during this period.
Less Competition: Buyer demand starts to cool, giving you an edge in negotiations.
Slower Market Pace: You’ll have more time to make decisions without the pressure of a fast-moving market.
Why This Year is Even Better
This year, the market is shaping up to be even more favorable than in previous years. Here’s why:
Mortgage Rates Are Dropping: Mortgage rates have just hit their lowest point in 19 months, significantly improving affordability for buyers. Andy Walden from Intercontinental Exchange Inc. (ICE) explains, "Recent easing in mortgage rates brought much-sought relief to prospective homebuyers."
More Homes for Sale: Inventory is on the rise. Realtor.com Senior Economist Ralph McLaughlin says, “The number of homes actively for sale has grown by 35.8% compared with last year, marking the highest levels since May 2020.”
This increase in available homes gives you more choices and negotiating power, as sellers are now competing for buyers’ attention. With more homes sitting on the market longer, sellers may be more motivated to negotiate on price or offer additional incentives.
Why Fall Is the Perfect Time To Act
Zillow highlights that early fall presents a unique "sweet spot" for buyers. You’ll face less competition, find more motivated sellers, and benefit from lower mortgage rates. These combined factors could make this early fall season one of the best times in recent years to secure your dream home at a more affordable price.
Bottom Line
If you’ve been waiting for the right time to enter the housing market, now is your moment. The upcoming weeks offer a perfect combination of lower mortgage rates, more inventory, and less competition. Let’s connect and get you ready to take full advantage of this prime buying window.
