Is the Late Spring
A Bad Time to Buy?
Question: We are beginning to look for a home and I've heard that April through June were the worst months of the year for buyers. Is this correct? If so, why?
Answer: You are half right. April, May and June can be tough on buyers because it's when sellers are most hopeful of getting their price. They know buyers want to move during summer vacation to avoid having their children change schools, so buyers start looking early. Sellers also know that for a wide variety of other reasons, including the fact that it's usually the first good weather after winter, buyers traditionally think about purchasing in late spring. Hence, sellers are most resistant to reducing their prices during this time period.
Q&A: Should we try to sell our home ourselves or hire an agent?
On the other hand, it's also the time when most sellers put their homes on the market to take advantage of the many buyers out there. Hence, while it may be hard to get a price reduction, you'll get the biggest home selection.
Mr. Irwin has more than 25 years' experience as a Los Angeles-area real-estate broker. He is the author of more than two dozen books about real estate and is recognized as one of the most knowledgeable writers in the real-estate field. Mr. Irwin's most recent book is "Tips & Traps When Buying a Condo, Co-op or Townhouse," (McGraw-Hill, 1999).
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Charlene, Boston
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