What is the best time of year to buy a home?

The best time of the year, I believe, is when the Buyer is able to afford it. During the Peak season, mostly Spring and Fall, there are both a lot of Buyers and Sellers in the market, so there is alot of activity going on. If a Buyer is ready to buy, then they should contact an agent who will be able to guide them through the process, find out the properties for sale, find the market value of the houses in the target location.

Anytime as above, how long you've been a Realtor?

I believe the best time for a Buyer to purchase a home is off season. In the summer or fall. The spring market is busy and with so many Buyers looking for a home it is hard to get a good deal. When it is busy the Seller rules.

Great question... If you are pre-approved and can purchase whenever, then the best time to Buy would be when you don't feel pressured to make a purchase. Issues such as a low number of homes on the market and a high number of similar buyers at the same time may have a significant effect on the time that a home is on the market (lower) and the price that homes are offered (higher) because this makes it more of a sellers market.

Although its hard to predict the future, we have seen Sellers markets arise early this year because of the change in mortgage lending terms by the Bank of Canada and the lack of homes on the market. We also saw Sellers markets arise last year because of the HST implementation and the surge of buyers that wanted to purchase before July 1st.

Typically, the Spring and Fall seasons bring a host of buyers and sellers to the market and the market is brisk. While Summer and Winter holidays bring less homes and buyers to the market.

When the amount of homes matches the amount of buyers, it makes the playing field more equal, and there is a better balance.

As Realtors, we provide a valuable service by assisting buyers in finding the right home at the price they wish to pay. It's all about finding balance!

Buying and Selling a home depends on:
a) if YOU are ready, willing and able to purchase
b) some people like to wait until closer to the end of school
c) some people have to wait until they sell their present home...and maybe it might not sell as fast as they thought it would
d) some people want a specific type of home (age,location, features) and if there are not a lot of those homes on the market it might take longer to find what you want
e) sometimes Sellers have to know they are going to NET out a certain amount of money before they can look and that amount is only determined when they get an accepted offer on their home
IT is not always a straight forward answer to this question so my advice is to talk with an agent 6 months before you are thinking you should sell and have them keep you informed about the market and homes that you may want to buy. It is a big purchase and decision so do not let the market determine your timing without ALL the FACTS.

The best time of year to buy depends on your goals.

If you just want a good price, November through January is the best time to buy as sales are low and sellers are more motivated to negotiate.

On the other hand, if you want a really great home, it can be hard to find during this time as selection is limited. Selection is much better during the spring and summer months.

Of course this doesn't mean that you can't get a great deal in the prime season or a dream home during the off season.