According to Realtor.com, the first week of October may offer the best conditions for homebuyers in 2024. Despite a relatively slow homebuying season this year, fall is expected to bring favorable changes with lower mortgage rates and an increase in available homes for sale. Key indicators suggest that this period will feature a good balance of market conditions making it an ideal time to buy. Historically, this week shows high inventory levels, reduced home prices and a slower market pace. This could lead to significant savings for Team Thompson’s buyers compared to the summer’s peak prices!
Realtor.com’s analysis points to a substantial increase in inventory and more manageable market conditions during the first week of October. Buyers can anticipate more options, less competition and homes staying on the market longer, giving them ample time to make decisions. Although the following two weeks will also be favorable they may not offer the same optimal balance as the first week. With many homes potentially seeing price reductions and a high number of active listings. This time frame stands out as a promising opportunity for those looking to purchase a home this fall!