While our seasons here in Southern California may be very subtle, there are definitely seasons in the real estate market.
Our “spring” season gets going in January, after the holiday season, and all the festive yet frantic obligations that it brings with it. In January everyone starts to get focused again on the responsibilities of adulting and that includes buying and selling homes.
Summer brings a bit of freedom to everyone’s lives. The kids are out of school so families feel more comfortable with the idea of moving, especially a long-distance move. Because of this freedom inventory tends to be at its highest, but so does competition.
Autumn and eventually winter, brings with it changing leaves (maybe less here in So Cal), kids in backpacks and a new season to real estate. Many find the start of school to be an inconvenient time to move. Others that live in colder climates, where freezing temperatures and the frustrations of snow are a real concern, just don’t want to deal with the hassle in the winter. While this may reduce inventory, it also reduces the competition, for both sellers and buyers alike.
When is the best time to buy? Seasons do play a part, even in OC, where we sometimes question if we even have seasons. But, there are other influencers that affect “the perfect time to buy.” Factors like low inventory and increasing interest rates have just as much effect on the housing market. No one can predict the future.
There are always trends in the real estate market, but they must never be taken as the be all, end all. Whether the best time of year for your family is the dog days of summer or Christmas Eve, just find the home that is right for you and make an aggressive offer.