Many people believe that summer is the best time to buy a home, and that the worst time to buy a home is during the winter. There are arguments, though, that summer home buying isn't all its cracked up to be, and much of it depends on your own situation rather than the season. If you are considering buying a home this summer, here are some of the advantages and drawbacks.
Buying a home this summer? Shop mortgage lenders and deals now.
Summer home buying: everybody's looking for a home
First, the bad news. Time was that housing markets slowed down over the summer after typically busy spring seasons. That's not been the case for the last several years, as sales have been nearly as strong in the June, July and August period as they have been in the March, April and May months.
In other words, a local market is likely to be busier than you may think. If you find a great house, you may find that other people also think this residence would be a great place to live. As such, you could find yourself essentially negotiating not with the home seller but against the other party trying to buy the home you want. This means you may pay more than you might otherwise have in less active market conditions.
More buyers, fewer agents
Because there's a lot of pent-up demand for housing, lots of folks are waiting to pounce if mortgage rates improve even by just a little bit. By way of example, during just an eight-week period in 2024 where rates moved from about 6.5% to about 6.125%, sales of existing homes rose by 6.5% as buyers standing on the sidelines jumped in. At times such as these, you may find that your real estate agent is swamped and may have less time available for you. Since home sales are mostly being driven by interest rate swings, you'll want to keep your expectations in check and your patience at the ready. Be aware that more favorable conditions for your also mean more favorable conditions for others, and that you may be competing for your real estate agent's time with a lot of other buyers.
Moving may be more expensive
It's summer, and you scored a home you love? Congratulations! Now comes yet another "fun" thing about the summer home buying season: tracking down a moving company that can fit you in at a price you're willing to pay. Moving companies tend to adjust pricing upward when demand is highest, and summer's prime moving season. If you can find one, you may find that a moving company charges more than they would at other times of the year, and for all that, you'll probably need to be flexible about scheduling your move, too.
Related: Learn how to find a great moving company
Just say no to summer vacations
People often go away for a week or more during the summer. Granted, sellers and agents really trying to sell houses probably won't disappear on a vacation if activity levels are busy, and your real estate agent likely won't vanish on you either. But then, this is a time of year when people aren't just going on vacations, but traveling for things like weddings and graduations.
If you're debating between summer home shopping and doing your most serious searching for a house or condo in the fall, the busy nature of the season might be a good reason to hold off. After all, you might want to take a vacation, too.
But, look, it isn't all bad in the summer real estate market. Let's cover a few of the positives.
More houses to buy
Sure, you might be worried about more competition and higher prices, but if you want to buy a home this summer, more people historically sell during this period, so you're going to likely have a better selection from which to choose. Maybe you don't land your dream home because somebody else bid a higher price. So what? There are likely to be other awesome condos, townhouses and homes available for you to consider.
Related: Seven Ways to Land Your Dream Home During the Summer
More daylight to look
You've likely got a day job to tend to, and so you probably can't look at homes all day, every day, at least in person, and virtual tours are fine but not a substitute for in-person visits. The good news is that, depending where you live in the country and how deep into the summer it is, you may have daylight until 9 p.m. or later every day to visit homes for sale. Not that you can't view homes in the dark, but it is nice to see the neighborhood and the outside of a house in the clear bright light, or dusk.
No school!
How does that affect you? You haven't stepped in a classroom for some time, presumably. Well, if you have children, or your seller has kids, this is probably a great time to be moving. If you should find a house you love, your seller probably won't be fretting about waiting to move out of your dream home until a semester is over. If you both have kids, you both will have somewhat more flexibility regarding the move-in date. In fact, it's also possible that the seller may be in a rush to move out and to their next home before the next school year begins.
Landscaping
By late fall and certainly in winter, the leaves may be off all of the trees, flowerbeds will be fallow, and lawns dormant. But during the summer, you can really see what it'll be like to spend time in your future yard and neighborhood. True, there are benefits of seeing a prospective house and neighborhood at any time of the year (i.e., so that's what it looks like with all the fallen leaves on the yard, or that's where I'll be piling the snow!), but if you're an outdoorsy person, seeing how a prospective home looks in summer may help you know how you'll enjoy your new surroundings.
So should you buy a home this summer? Yes. Unless, of course, you feel that the answer is no. There are good reasons for summer home buying, just as there are great reasons for winter home buying, a time with less competition and seasonally-lower home prices (albeit fewer choices). Really, the best time to make a home purchase is whenever you say it is -- and the goal is to find a home you love and can afford no matter the season.
This article was updated by Keith Gumbinger.
