Is it a Good Time to Buy a House now?

Is now a good time to buy a house? Early 2024 is proving to be a good time of the year to buy a house. This may come as a surprise since most are trying to rein in their high holiday spending. However, that is exactly why now might be the time to get into the market while others are recovering from December.

Here are the top 3 reasons why buying during a lull or off-season is the industry's best hidden secret:

1. Better Negotiating Opportunities

Most people are not ready to buy a house in the new year resulting in reduced buyer activity. With less people in the market, buyers in February or March have more opportunities to negotiate advantageous offers that may disappear later into the year (especially if the house has been listed for 45 days or more).

2. Motivated Sellers

In the new year, sellers have a renewed interest to sell, especially many who relocate due to changing job situations or who had tenants who moved out. Sellers are more motivated to finalize transactions which could mean better prospects for buyers at this time.

3. Home Inspections

While weather in February may not be your favourite time of the year, buyers can view homes under more realistic all- year round weather conditions. This will show buyers the true condition of the house in more negative external conditions so they can have a thorough and pragmatic idea of what they are buying.