Starter Homebuyers Should Start House Hunting Now

Dated: 09/21/2017

Views: 28

TRULIA: Starter Homebuyers Should Start House Hunting Now

Starter-home Inventory Peaks in the Fall, While Listing Prices Hit a Low Point in the Winter

SAN FRANCISCO, Sept. 20, 2017 /PRNewswire/ -- Today, Trulia®, a home and neighborhood resource for homebuyers and renters, released the findings from the Trulia Inventory and Price Watch. This quarterly look at the supply of starter, trade-up and premium homes on the market nationally and in the 100 largest U.S. metros found that starter homebuyers should accelerate their house-hunting plans now as for-sale inventory increases and listing prices decrease in the fall and winter months.

Time of Year When Starter Inventory Peaks and Prices Bottom

Starter Homebuyers, Begin House Hunting and Go West
Starter homebuyers should ignore conventional wisdom about the spring home-buying season. Starter-home inventory peaks in October and actually rises 7% in fall months, compared to the spring. Regionally, the strongest season for starter homes in 70 of the top 100 housing markets is between October and December. That leads to listing prices that are about 4.8% and 3.1% lower in the winter and spring than in the summer, respectively.

Homebuyers in the West should especially pick up their house hunting efforts as seven of the top 10 metros have the largest inventory and price swings are in California, Colorado, Oregon and Arizona. San Jose leads the pack with a 42% seasonal difference, on average, between its fourth quarter peak and first quarter low point in the number of starter homes on the market. For discounts, Wichita, Kan., offers the biggest savings. Listing prices there are 18.6%, on average, from its first quarter low point to its second quarter peak.

Blog author image

San Diego Home Network Buyers

Everything happens out of our local office and we are happy to meet with you on video chat or in person anytime. We want your home buying experience to be easy and magical! Let us take care of the det....

Want to Advertise on this Site?

Latest Blog Posts

PreApproval Your 1st Step In Buying A Home

In many markets across the country, the number of buyers searching for their dream homes outnumbers the number of homes for sale. This has led to a competitive marketplace where buyers often need to

Read More

Buying A Home Do You Know The Lingo

Some Highlights: Buying a home can be intimidating if you are not familiar with the terms used during the process. To start you on your path with confidence, we have compiled a list of some

Read More

Dispelling The Myth About Home Affordability

We have all seen the headlines that report that buying a home is less affordable today than it was at any other time in the last ten years, and those headlines are accurate. But, have you ever

Read More

New Home Sales Up 127 From Last Year

According to the latest New Residential Sales Report from the Census Bureau, new construction sales in August were up 3.5% from July and 12.7% from last year! This marks the second consecutive month

Read More