When Is the Best Time to Buy a House?

Ready to buy a home? Before you start scrolling through Zillow or hitting the open house circuit, take a moment to sit down and ask some questions. When is the best time to buy a house? What are the current housing market trends? What does a real estate market analysis reveal? And is it a good time to buy a house? 

By slowing down and thinking through the process, you may be surprised by what you learn. Like many of life’s big decisions, timing is everything — and it’s a huge factor in deciding when the best time is to buy a house. 

What to Consider When Buying a House 

From seasonality to economic implications, here’s what to consider when you’re trying to determine if now is a good time to buy a house. 

Consideration 1: Season 

Peak home buying seasons vary by location, but based on Redfin’s 2025 U.S. Housing Market data, the best month to buy a house was June. If you live in a region that experiences colder temperatures and snow, the warmer months — spring, summer and even early fall generally boast more options when it comes to what’s on the real estate market. According to The National Association of Realtors, peak buying season is in April through June. During these months, you may have more choices, but you may also see more competition. With more competition, be prepared to decide quickly and go in with your best offer up front. Also, don’t expect the seller to agree to many concessions. 

In colder months, there are typically fewer homes on the market and there are fewer people looking to buy, with the lowest season in December through February. With less competition, you may be able to get your home at a lower asking price or get the seller to sweeten the deal (like throwing in the surround sound system or opting to leave the washer and dryer).And sellers who list their homes in the fall and winter may also be more motivated to sell quickly, which may translate to a better deal for you. Autumn is when buyers typically get the best prices on real estate, according to a report from Kiplinger.com. 

Consideration 2: Mortgage Rates 

If you’re looking for the “perfect” time to buy a home, you may be waiting for lower mortgage rates to hit. But be warned: It’s difficult to predict when rates will be lower. Waiting for perfect or even good market rates might not be realistic if you want to buy a home soon. However, you’re not necessarily locked into a single rate: You can always refinance in the future if rates drop markedly. 

Just be sure to weigh the pros and cons of refinancing — it typically only makes sense to refinance your home if you're certain that you'll be able to recoup the cost of refinancing during the time you own the home. Even when rates are low, keep the overall value of your home in mind to ensure you’re getting a good deal. If you do want to wait it out a bit, be sure to have your ducks in a row so you can move quickly when rates drop.  

Consideration 3: Your Finances 

Your personal finances have a lot to do with the best time to buy a home. The last thing you want is to buy a house you can’t afford, and often there are hidden costs to owning a home that you may not have factored into your home buying costs yet. A home is a big investment, and it brings financial responsibility, so be sure to evaluate your overall financial picture before taking the plunge.  

Here are some financial considerations as you think about buying a home: 

• Amount of Debt: If you’re already drowning in payments for student loans, credit cards and cars, it may not be the best time to take on a mortgage. Wait until your financial picture is better sorted before you take on an additional payment.
• Credit Score: Your credit score plays a major role in your ability to get a home loan. You need a credit score of at least 620 to qualify for most mortgages, according to Experian.
• Down Payment Funds: While you don’t necessarily need to put a full 20% down to qualify, the more you put down initially, the less you’ll need to borrow. If you don’t have 20% to put down, you’ll often need to pay private mortgage insurance (PMI), which you should factor into your calculations. 
• Income Source: A reliable source of income is crucial to making monthly payments on your mortgage. Lenders will also consider your regular income when deciding how much they may be willing to loan you. Before you purchase a home, be sure you’ve crunched the numbers and can afford the payment you’ll be taking on.

Plan for What’s Next 

When you’re ready to buy a home, your Farm Bureau agent can help you put the right insurance in place so you can rest easy knowing your home is protected.