Summer Real Estate Sizzle: Five Reasons to Buy a Home in Summer
Summer is the season to think of lazy days at a popular lake and active days working in the backyard. The cracks of baseball bats in Lehigh Valley resonate all the way to Williamsport, Pennsylvania, where the annual Little League World Series ushers in another two weeks of high drama. Of all the things that make us think of summer, one thing remains clear in the real estate industry.
Summer is the best time to buy a home.
Yes, summer is the season when home prices climb, but there still are plenty of good deals in the Lehigh Valley, as we enjoy the sizzle of the hot real estate market in Bethlehem and beyond.
Let’s take a closer look as to why summer rules for buying a home.
More Homes Come on the Market
When you shop for a new car, you want to find a dealer that offers a wide variety and a large inventory of vehicles. The same principle applies for home buying in summer. You have more options for locations, amenities, and floor plans during summer than any other three-month stretch of the year. In addition, a larger supply of homes for sale dampens the annual trend of home prices rising during June, July, and August.
Summer Makes Buying and Selling Easier
It is not just buying a house that makes summer the best time of year for home buyers. Summer is also the best time of year to sell and buy at the same time. The period between the two summer bookend holidays-Memorial Day and Labor Day-is the period when the largest number of home buyers are in the market. Just remember that real estate transactions take time, which means it is highly unlikely that you will consummate a home sale on the same day that you sign the mortgage to buy a new home.
Less Impact on Children
Children get used to a routine, such as attending the same school and hanging out with the same group of friends. If you relocate the family when school is in session, you risk disrupting the lives of your children. Home buying in summer gives your kids plenty of time to become acclimated to the new neighborhood and more importantly, meet a new group of friends before the next school year begins.
A Preview into the Potential of a Home
One of the key components of home buying involves getting a picture of how your plan to transform your new home. No other time of year provides you a glimpse into the future better than summer. You see trees and flowers at full growth, as well as how the yard looks when it is finely manicured and sufficiently watered. Summer also gives you insight into the changes you might make to the appearance of your new home.
Get a Feel for the Neighborhood
Just as your kids need some time to transition into a new home, so do the adults making the move. Summer is the time of year when residents spend the most time outdoors. You should have a chance to meet some of the people living in the area, as well as get an idea about the pulse of the neighborhood.
Although home prices typically peak between the two bookend summer holidays, there are many other factors that counter the increase in price trend. The number of similar homes on the market in the same area plays a role in determining price as well. Throw in the unique real estate factors that define 2020, and summer is the best time to get into the Lehigh Valley residential real estate market.
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