How Important is Timing in Real Estate?

As we settle into springing ahead, the notion of timing is all too apparent. So how important is timing in regards to real estate? There are rumors about the best times to buy and sell, but are there any truth to these rumors?

Many folks like to speculate about the best times to sell a home. While spring remains a popular season to list homes for sale, in military communities like Hampton Roads, people relocate here throughout the year depending on their specific PCS orders. Listing your home when others are not (in a sellers' market) to help create a favorable market for your property is also typically advisable. Although this path may sound feasible, life doesn't always allow for being able to hold on to a house until the optimal buying circumstances present themselves.

And what about buying a home? When is the best time for house hunters to snag the best purchase price on a piece of the American dream? If most buyers are out in spring and summer months, then reason would seem to argue that fall and winter may be the prime buying seasons. Sellers can be more negotiable, and there is less competition for the available inventory. But this strategy can backfire for choosier buyers who may need to look through many homes (which may not be on the market during these particular seasons) before finding the right one. And how much should economic conditions factor into the buying decision process? That answer depends on who you ask.

What it really boils down to is, buy when you need to buy and sell when you need to sell. If you have a knowledgeable real estate professional on your side, you are ahead of the game and can come out on top. Have a little wiggle room when it comes to timing things? Great! But if not, your agent can still make things work to your advantage. The housing market is continuously changing, so don't overthink the timing issue. When it's right, you won't have to guess. Your agent can show you why the time is right to buy or sell and how it can make sense for you.