Timing the Real Estate Cycle When Buying or Selling a Home

The best time to buy or sell a house… if you ever see this as an article header, it’s probably click-bait! This answer changes SO MUCH based on what you’re looking for, where you live, and what your market is, so there isn’t a one-size-fits-all answer.

Let’s talk about why that is with a specific case example. I pulled the numbers for the last year or so in Utah county. The highest/closest to listing price month was July 2018 (101% of listing price on average). The month where sellers walked away with the most money was December 2018. (Not spring- shocking to some, I know!) More homes sold in June 2018 than any other month, but the best interest rates were available in January 2018. Add to that the fact that homes sold the quickest in May 2018, and you’ll see that it’s almost impossible to say that any given time of year will be the ‘best’ to buy or sell a house! And this is just a nibbling of the data I have available on homes sold for the last year!

Want to hear some of the worst numbers of the year? The fewest homes sold was January 2019 and the worst interest rates were in November 2018. The longest time homes were on the market (on average) was 2018… which was also the month where sellers walked away with the most money!

So when you want to know the best time to buy or sell for you personally, there are a lot of factors to consider! What is the most important thing to you? Getting the best interest rates? Selling your home the most quickly? Netting the greatest amount of cash for your home? Decide what the most important factor is for you this upcoming year and then choose to buy or sell depending on your  needs!

Which is why I say- don’t try to time the real estate market- figure out what YOU need and base your timeline around that!

As always, I’m happy to talk to you about your individual circumstances and figure out what would help you the most. I’m just a click, call, or text away!

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