One of the questions that Palm Springs real estate home shoppers will likely ask themselves is: when would be the best time to buy a house?
The simple answer: it’s always a good time to buy one because real estate properties often appreciate with time rather than depreciate like most other forms of investment. So regardless of when you buy, you are almost always assured of high returns in the future. With property prices always going up, you might end up spending more if you don’t act fast.
Of course, like any other industry, the real estate market is also prone to trends. With that in mind, here are the general home buying trends to expect throughout the year.
From the first day of March to the end of May, the housing market will see a surge in supply. With more homeowners and realtors listing their homes, you’ll have plenty of options when you go home shopping, and will enjoy a little room for negotiation because of the large number of houses on the market. On the other hand, there’s also a good chance that you find yourself in a serious bidding war if the property you’re interested in attracts a lot of buyers.
The frenzy of the spring real estate market tends to extend towards the summer months, although by this time, most of the sought-after homes will already have been sold, and you’re left with second or third option properties. You may even observe a drop in prices, as some homeowners will be eager to sell before the colder months roll in.
For those who want to save, early fall will be the best time of the year for home buying. To prevent their properties from languishing in the market, many homeowners will end up lowering their price tags to rock bottom rates just so they can dispose of them quickly.
That said, real estate conditions differ by geographical location, and Palm Springs homes for sale are regularly in high demand, so the lower housing prices enjoyed by most of the country during this season may not be true for you if you’re shopping for a home in this community.
As temperatures cool down, so follows the level of activity in the real estate market. Homeowners are less inclined to sell their homes, and buyers are less interested in shopping. Still, that doesn’t mean that there will be zero homes for sale altogether. If you’re lucky, you can get a good price on a home, as you’ll be facing less competition.
Boost your chances of getting a good price on a Palm Springs property
Regardless of when you intend to buy, your best bet toward saving is to partner with a savvy real estate agent such as John Butler from the moment you decide to go ahead with your Palm Springs home buying plans. John has the skills, expertise, and experience you need to ensure your best interests are always met throughout the home buying process.