Why Early Fall Could Be the Next Housing Market ‘Sweet Spot’
In this month’s market report, we ask in-house economist Jeff Tucker about what seasonal cycles look like in a remarkably unusual year for home buying.
If you’ve come up empty-handed after home shopping all spring and summer, you might want to keep your eyes peeled over the next few weeks.
As summer wraps up, there could be some deals in the offing, says Zillow® senior economist Jeff Tucker.
“I’d encourage buyers who felt daunted or got outbid during the surprisingly stiff competition this spring to keep an eye on Zillow for good options this August and September,’’ Tucker says. “It’s really a sweet spot in which they’ll face less competition from other buyers while still having enough options to help them find the perfect fit.”
Here’s why.
Real estate tends to follow seasonal cycles: Spring brings out buyers in droves while fall tends to see price cuts and longer selling times as buyers drop off when their kids go back to school. Tucker says those long-standing trends have gotten even more pronounced over the past two years.
“The seasonality of the housing market seemed to be amplified in 2021 and 2022,” he says. “In both years, a white-hot spring shopping season gave way to a surprisingly slack late-summer slump, allowing buyers to benefit from still-high inventory and less competition.”
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