When is the Best Time to Buy a Home?

Truthfully, this is a difficult question to answer because it really depends. The real estate market is fluctuating all the time. Interest rates are changing, prices are changing, supply and demand is changing, all the time
the market is changing. Historically, in the Hampton Roads, Virginia market, 25% of homes will sell between January 15 and the end of March, 25% will
sell between June and July and another 25% between September 15 and December 15 with the others intermingled between those dates. So, that
means you will likely have more options during those times since the supply of available homes is likely to be larger, yet, you will be competing with more buyers. So does it benefit you a lot? Again, it depends.

In our area, Southeast Virginia, there is a significant presence of
military families since we have every branch represented here. That means it often makes more sense to try and purchase before the PCS season (a.k.a. when military families get orders to move to different stations). This way you have less competition which hopefully means you do not have to spend as much to buy.

Listen along!

The Maroon Group Podcast

Take the time to build your credit score, save money for a down
payment or for repairs/upgrades to the home, make sure you have enough time to not feel rushed to find a home and then start the process when you feel confident you are in a good position to purchase.

Ultimately, the best time to buy is whenever it’s best for your family. If
you need help getting a game plan together, reach out to us, we would love to help.