What is the Busiest Time of the Year for Buying or Selling Real Estate in the Raleigh area?
Every market has seasonal trends for home buying. The North Carolina mountains, beaches even big events like the Super Bowl or the NHL All Star Game can influence a seasonal buying trend. However, in the Greater Raleigh Area our traditional trend in home buying spikes up in April, May, June, July and early August. This is due mostly to families with children trying to settle in before Wake County Schools begin.
We see home buying demand increase again in October, November and December. The Fall months are busy due to the annual Parade of Homes and many people wanting to settle into a new home for the holidays or get a tax write off before the year ends.
What Are The Slowest Months of the Year for Buying or Selling a Home?
Traditionally the slowest home buying months in Raleigh area are January and February.
When Is The Cheapest Time of the Year to Buy a Home?
A factor that will always effect home buying trends are interest rates. When interest rates drop this gets more buyers thinking about real estate and when they inch up it always drives more buyers to take action.
Isn’t it interesting that so many buyers miss the lowest interest rates because they wait hoping they will get better?
Perhaps a solution would be to purchase a home with a lender that will allow you one free rate drop during the process. Then you have a safety net if rates drop again or if they go up you will be happy you did not procrastinate. At present interest rates are the lowest they have been in 40 years. A rise of 1% in an interest rate is like paying 10% more for the same house. Don’t wait it is a great time to buy real estate. It is on sale and interest rates are low low low.
What is the Bottom Line, Linda?
To quickly summarize generic, predictable trends that happen every year regardless of interest rates or big city seasonal events: Families tend to move in the summer, first time buyers purchase before weddings and holidays, investors buy good deals year round but, traditionally see more out shopping in the winter when home buyer compettition will be a little lower. To see every home for sale in the Triangle area including Raleigh home rentals, foreclosures, short sales, new homes and resales visit our Raleigh Real Estate Website, www.LindaCraft.com
If I can answer any questions for you about the greater Raleigh area real estate market please give me a call. I have sold over 5,000 homes, am investor certified and a distressed property expert. If you have questions I have answers. Feel free to call me at 919-235-0007 or email Linda@lindacraft.com
Have a great day!