When is the best time to buy or sell a home? I challenge the idea that there is a “best” time, and there are a few reasons why.
The first is the fact that mortgage rates fluctuate daily. They’re low at the moment, and last week, they dipped significantly and gave buyers a great opportunity to lock in a low rate and buy more home. However, that could all change next week. Can you time that kind of fluctuation? Probably not.
Second, statistics don’t tell the whole story. People point to national statistics all the time to justify their urge to buy or sell at that given time, but those statistics are missing a lot of local details. Even the statistics from the greater Phoenix Metro area are too broad to rely on exclusively when deciding to buy or sell. You need to look at the specific details of your micro market to get a better sense of when to buy or sell.
Lastly—and most importantly—your personal circumstances matter. What are your goals? What’s your family situation or financial outlook? Buying or selling a home isn’t a one-time decision; it’s the beginning of another chapter of your life. Deciding when to buy or sell is not so much about timing the market as it is about examining your personal circumstances and knowing what’s best for your family.
I’ve been in the real estate business for almost 21 years, so if you’d like to talk about whether or not your personal circumstances point to right now as the best time to buy or sell, don’t hesitate to reach out to me.
As always, if you have any other real estate questions, feel free to give me a call or send me an email as well. I’d love to help you.