September is the best month all year to sign a contract to buy a home. There are many factors that come together to make the month of September unique. The first factor to consider is supply. Buyers can have more choices than they have for the last 10 months. According to daily survey of visitors to realtor.com, the biggest factor holding back buyers to buy a home all year long has been the inability to find a home that meets their needs. That's because the home supply has been tight all year.
The second factor is demand. With the school opening, demand will start to decline. Signing a contract in September will likely mean you could close before Thanksgiving. This means September buyers won't have as much hassle as compared to winter where there is a threat of snow in most of the country.
As reported by the Realtor, the third and final factor is the current low level of mortgage rates. Why pay more lately when you can pay less today? Signing a contract to buy a home soon would enable buyers to lock in today's lower rates before they start their long-awaited ascent. With low rates, more choices, less competition, lower prices, and the chance to move before "harsh winter" makes September sounds enticing especially if you have been looking but unable to buy so far this year.
According to Fair Fax, September is a great month to buy a home because it is easier to negotiate the price. Many of the homes during this time have been on the market through the summer and most owners are now willing to negotiate on their list price.
Another good reason why September is a great month to buy a home is that the inventory is still high which means plenty of homes to choose from. Homes that were listed late in the spring season went through the summer months that have accumulated through September with many choices.