The Best Time to Buy a Home

Hello Hampton Roads,

When's the best time to buy a home? January!  The housing market is seasonal with peaks and valleys in pricing and historically prices tend to bottom in January and peak in June.

This article from the Crux, explains it best: Now is the Time to Buy a House in the US
Looking at the NAR (National Association of Realtors) data, research has show that housing prices have appreciated 3% a year since 1989 and most of the gains occurred from January to June! The national average is about 9%.

In our own market in Hampton Roads, looking at 2015 numbers we find this to be true.
In January 2015, the median sold price for residential homes on the Southside was $205,000.00 and in June 2015, the median sold price was $230,000.00.  That's over a 10% increase in just 6 months.

Looking at historical data, if you are looking to buy close to the bottom of the market to get the best prices, January is it!

You can start your housing search online, here.
If you have any questions about buying a home in our market, how to get started, get financing or help with the down payment assistance, please let me know.  I'm happy to answer your questions or help in whatever way I can.

Thanks for Reading,

View Liz Schuyler- CDPE, SFR, e-PRO's profile on LinkedIn 

Serving your Hampton Roads and Virginia Beach Real Estate needs. Liz Schuyler on Google+


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