As summer winds down and the air grows crisper, many homebuyers may not realize that this picturesque season presents a golden window of opportunity. While conventional wisdom has traditionally favored spring as the optimal house-hunting period, evidence suggests that the fall, especially in places like Nebraska, can be an even better time.
“While many associate spring with new beginnings, it's the fall season that can offer terrific buying opportunities for potential homeowners,” notes a representative from Nebraska Realty.
According to an extensive study by ATTOM Data Solutions, analyzing over 39 million single-family home and condo sales between 2013 and 2021, buyers generally secure the most competitive prices on real estate in October. On average, homes purchased in this month command just a 3.3% premium over their median value. This figure climbs slightly to 3.7% for November and December, making the entire fall season a lucrative period for prospective buyers.
Why is this the case? As the representative from Nebraska Realty elaborates, “The dynamics of the market change. In the fall, you often have sellers eager to close before winter sets in, and fewer buyers in the market mean less competition. This combination can be advantageous for those looking to negotiate favorable terms.”
However, buying in the last summer or fall doesn’t just boil down to price. A post-summer market often provides potential buyers with a clearer picture of available inventory without the noise of the spring's high demand. This can enable more informed and less rushed decisions.
Nebraska's unique climate and landscape can further amplify these advantages. The beautiful fall backdrop provides potential homeowners a chance to see properties in their full splendor, while still being able to assess the exterior before winter’s snow and ice make their appearance.
It's not just about seizing the moment, though. Preparedness can give homebuyers an edge. Ensuring creditworthiness, understanding one’s budget, securing pre-approval for mortgages, and partnering with a dedicated real estate agent from firms like Nebraska Realty can ensure that when the right property becomes available, the buying process is smooth and swift.
As summer ends and the fall season unfolds in Nebraska, prospective homebuyers are encouraged to venture out, explore, and potentially find their dream homes. With the market's favorable conditions and Nebraska Realty's dedicated team ready to assist, there's no better time to turn the dream of homeownership into a reality.