Get ready, home buyers! 2023 is here and it’s time to look ahead at when you should purchase (and why).
1. New Year (January):
The start of a new calendar year is always a good time to buy a home. The market is least competitive at this time of the year, and as James Duffer predicted, we are likely to see the return of seasonality in the buying cycle in 2023, meaning that the New Year is becoming the smart time to buy a home once more. Keep in mind that prices typically start to increase again from January onwards, so it’s best to buy early if you can.
2. Spring (April – June):
This is a great time to buy a home in Rhode Island due to the mild weather and steady housing market. But also, the majority of buyers are still going to be out in the summer, so this is the time to get those last minute gems (before the rush starts).
3. Summer (July – September):
The summer months present an ideal opportunity to buy a home in RI with (likely) plenty of inventory on the market. Which means if you want to really enjoy the options, and see the best a property has to offer on those warm days, summer is a great time for the savvy buyer to start looking. Just remember… it will be competitive, so be sure to have all your ducks in a row.
4. Fall (October – December):
Fall offers the potential for more competition as buyers may be willing to buy before the end of the year. However, you should also be aware that prices might start to rise during this season as well. If you want to buy a home in Rhode Island or southern New England during this timeframe, it’s important to research properties thoroughly and compare them with others in the area.
5. Winter (January – March):
The winter months can often bring some of the best deals on homes in Rhode Island due to fewer buyers active in the market and lower demand overall. Prices have dropped in the past during this time of year, which could make it an ideal time to buy if your budget permits.
Rhode Island is great, whatever the season! Whether buying, purchasing, selling, leasing, commercial real estate, or anything else you need answered, contact one of Rhode Island’s top realtors and we will be glad to help!
Contact James Duffer | Yvonne Sousa | Herson Martinez | Kyle Graves | Ryan Foss| David Boni |
And we can help with any inquiry you might have, covering Rhode Island, as well as Connecticut, and Massachusetts.
As the temperature drops and snowflakes start to fall, it’s time to transform your home into a cozy winter haven.
As the days grow shorter and a crisp chill settles in the air, hearts around the world start to beat