The Strongest Season
The spring homebuying season may be long gone but that doesn’t mean first-time buyers should wait months to start looking. A report from Trulia looked at the supply of starter, trade-up and premium homes across the 100 largest metros and found that starter homes inventory will increase typically around 7% in the fall; while prices decline 4.8% in the winter compared to the spring.
The strongest season for starter homes in 70 of the 100 largest metros is between October and December. Seven of the top 10 metros will see this swing in inventory and prices. “Starter homebuyers should begin looking now. The fall season provides a great opportunity for finding the right home and neighborhood thanks to a bump in homes for sale on the market, followed by lower winter prices,” said Trulia senior economist Cheryl Young.