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September is the Month to Buy

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Looking to buy a new home this month? According to Realtor Mag, buyers who are willing to close on a home purchase during the off-peak seasons tend to have the upper hand. It also turns out that September is the best month of this year to sign a contract to purchase a home, according to realtor.com’s chief economist, Jonathan Smoke.

Why is this September the perfect month to buy? First, supply is rising, providing homebuyers with more choices of homes for sale than they have had in the past 10 months, states Realtor Mag. Second, overall demand is down now that the school year has started so buyers will provide less competition this month. Lastly, mortgage rates are remaining low – The 30-year fixed-rate mortgage ended the week under 4 percent due to recent stock market turbulence, reports Realtor Mag.