When buying a house, wouldn’t it be awesome if you had the widest selection and the lowest prices to choose from—and everything was lined up perfectly for when you were ready to move?

That’s the dream. The problem is, it’s not easy to time when home prices will be low and the number of homes for sale (or inventory) will be high. Even if you could, you’d have to be in the right place in your ever-changing season of life and financial situation.

To help you feel confident about finding the best time to buy your house, we’ll walk you through typical housing market patterns and show you how to tell when you’re financially ready to buy a house. That way, you’ll be set up for success as you take on one of the biggest purchases of your life.

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How’s the housing market these days? It’s a question almost as common as asking about the weather. But do you really know what’s going on with the housing market?

If you’re looking to buy or sell a house, you should. The ebb and flow of activity in the real estate market is a major factor in your ability to make a successful offer on a house or find a buyer quickly, and it may even affect how lenders valuate a property leading up to closing on a deal.

To be able to leverage all the details you need to make a confident, smart decision in a transaction, a little bit of knowledge on the current state of the real estate market is a must. But if you’re just throwing out common industry terms like “seller’s market” or arguing about buyer preference trends without any additional knowledge to back up your statements, you’ll likely see your bluff called.

You want to have an understanding of not just how the typical housing market cycle works, but also how your local market is functioning relative to the national market. To help you out, we’ve compiled the basics when it comes to understanding common real estate market lingo, current trends and how to examine the state of housing in your area.

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Home prices are beginning to show signs of cooling as buyers have pulled back due to mortgage rates doubling this year, which is starting to convince sellers to lower their sales price.

However, the overall housing supply remains limited as those who purchased homes in recent years at low mortgage rates are staying put. Additionally, many sellers are waiting for interest rates to drop to have a better chance of getting the price they want.

While home prices continue to climb from last year, the price points are not as high as earlier this year, indicating the over-heated housing market is slowing down.

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Understanding the seasonal trends in the real estate market is a crucial first step in determining the best time to sell your home. But, the decision to move is often a personal one. It’s important to take other factors into account like your financial situation, the current condition of your home, if you plan to make any improvements, and whether or not local market conditions are in your favor.

This guide will walk you through what you need to know when it comes to choosing the right time to sell. Here’s what we’ll cover:
The best time of the year to sell a house
5 factors to determine the right time to sell
The pros and cons of selling in each season
Selling a house in the summer
Selling a house in the fall
Selling a house in the winter

(read the full article here)