Yes, mortgage rates have been ticking up lately — and that's creating some real challenges with affordability. No one's arguing that. But there are also predictable trends that happen this time every year that can put some wind back in your sails.
According to research coming out of Realtor.com, nationally, the week of September 27 – October 3 will be the best time to buy this year for this very reason:
"The week of September 27–October 3 brings together the market conditions buyers value most — elevated inventory, less competition and prices that have eased from their seasonal high — giving prepared buyers a way to offset high rates with savings on price and room to negotiate with confidence."
But that's the national best week. Depending on where you live, your local sweet spot may come a little earlier or later. It all depends on local trends and how inventory and buyer demand ebb and flow seasonally where you want to live. But no matter when your market hits its peak, here are some of the perks you can expect this time of year.