An Underused Home Sales Tool: Autumn Leaves

Although the charmed season for home sales, spring, has long passed, fall — and this fall, in particular — is an opportune time to buy for many people. While many families prefer to relocate in the spring and summer months in order to be settled before their children return to school, housing data firm HSH.com notes that single buyers, empty-nesters, and those without kids are not tethered to that timetable. Other categories of buyers who are likely to be actively looking during the autumn months, based on ERA Real Estate research, include enlisted persons who receive new base orders; buyers of vacation properties; investors; and first-timers. Buyers forced to move for employment purposes, meanwhile, may have to do so in the fall; and according to HSH, people who are making a purchase after the prime spring season often feel hurried to get their new home in order before the holidays arrive. Others want to pull in a few months of mortgage interest deductions or other tax benefits before the year ends. While these market conditions can make for a healthy autumn housing market any year, the 2012 season promises to be especially fruitful. Historically low mortgage rates should encourage fence-sitters, who also will be motivated to act as the market begins to rebound. Property prices are starting to creep back up, and many buyers will decide to make a purchase before appreciation takes off. Unemployment has not worsened, meanwhile, which could give some buyers the confidence to take out a mortgage. | Read More