Buying a house is partially about timing among a number of other important factors. The housing market is a fluctuating monster. The fluctuations in buying are many, but important fluctuations are: how many houses are currently on the market, at what rate are houses currently selling, what are the financing rates like. Of course there is more to pay attention to including things such as tax incentives, but these three factors can help you decide the best time to buy.
How many houses are currently on the market. It is a simple factor of the market that if more is available the competition increases and the price should come down. The same is true in the Real Estate market. The more houses on the market leads to more more sellers trying to get your money leading to deals being sweeter than if there were more buyers than sellers. If a person is selling a house and there is a steady stream of people and offers coming in then that person is less likely to accept your low bit.
People selling houses watch the trends. Real estate agents will make suggestions to their clients based on these trends. There may not be an excessive number of houses on the market but if people aren’t making offers and buying houses prices may drop or a lower bid may be accepted. Some sellers are in need to sell their houses sooner than later, such as the case where they have already purchased a new home and are wanting to get rid of the burden of their old home.
Then there are the dropping interest rates of recent years in this economic recession. Not included in the list price of a house is the amount of interest you will pay while paying the mortgage. a lower interest rate will definitely lead to less cost to you. Watch these three factors and you may find the best time to buy.