People talk about the best time of year to buy a house, but the “best time” truly is subjective.
You might consider the “best time” to be when there are plenty of houses on the market to choose from. Or when home prices are the lowest. Or it may just be the time of year you need to move for a new job.
Research from the real estate technology company Redfin offers some answers for buyers with different goals and priorities.
If your priority is getting a lower price, October is the best time in certain markets, Redfin reports.
“October is when buyers finally get some breathing room,” said Natasha Bartolomeo, a New Jersey Redfin agent. “The market’s still competitive, so you can’t wait forever — but this is the window when listings that have been sitting since spring get more open to price drops or covering closing costs.”
“If you’re serious about buying, this is the smart time to shop, before that leverage disappears,” said Bartolomeo.
Redfin: October can be the best time for lower home prices
Of course, every local real estate market is different. The best time to snag a low home price in one part of the country might not be the same as in another.
In an analysis by Redfin and analytics and research firm Home Economics, the companies found that October is the best time for homebuyers to get good deals in 16 major U.S. metro areas, primarily on the East Coast and in the Midwest.
Here’s how the timing and locations break down:
- Early October: Boston; Chicago; Minneapolis; New Brunswick, N.J.; and Orlando
- Mid-October: Cincinnati and Columbus, Ohio; Indianapolis; Montgomery County, Pa.; Philadelphia; Pittsburgh; Providence, R.I.; and Virginia Beach, Va.
- Late October: Cleveland, Phoenix, and Warren, Mich.
“Seasonality trends suggest buyers in these places looking to score a bargain may want to get serious about their home search now that fall is here,” senior economist Asad Khan told Redfin.
“If a lower price is a priority, October is the time to make a move in these places,” Khan continued. “Sellers who put their home on the market over the summer might be open to dropping their price or offering concessions now that we’re past Labor Day.”
Other cities have their own best times for lower prices
What if you don’t live in one of these metro areas, but your main priority as a buyer is still to get a low price? You may still have options before the end of 2026.
Late September is the best time to find a good deal if you live in Houston, Las Vegas, San Francisco, or Washington, D.C., according to the Redfin analysis.
Early November is best for homebuyers in Milwaukee; Riverside, Calif.; or Tampa.
Winter months can be the best time to get a low price in some areas, because fewer people are interested in buying. This often means less competition with other buyers, which can lead to lower home prices, according to American Home Shield.
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In fact, the Redfin analysis found that mid-December is the best time for a good deal in Detroit, as well as Fort Lauderdale and West Palm Beach, Fla.
If your priority is buying when housing prices are lowest, however, you may have to compromise on other parts of the home-buying process.
“Waiting until later in the fall can pay off, as prices often soften toward the holidays,” wrote Realtor.com. “Mortgage rates may also be lower, which along with softer prices can make a big difference on your wallet. However, the trade-off is fewer choices.”
