Is September a Buyer’s Month?

With summer ending, the fervor of home buying is dying down, which can be a good thing for buyers. A recent article in Daily Real Estate News noted that homebuyers looking to purchase during the off-season, particularly September, could have the upper hand.

Jonathan Smoke, chief economist for realtor.com, reported that supply rises in the late summer, providing buyers with more choices. In the third week of August, national inventory was at 1.91 million units, an increase of 21 percent since January.

“Normally inventory peaks in August and begins to slow as the nights grow longer,” Smoke says. “But this year the typical seasonal decline will start a bit later. There will be more choices in September than any other month in 2015.”

Other incentives include less competition (in large part due to the start of the school year) and low mortgage rates.