September, somehow, has quickly come upon us. Have you been hemming and hawing about purchasing a home all summer? We know that the real estate market is booming and now is a great time to buy. Jonathan Smoke, lead economist at realtor.com, says September may be the best month for you to buy a home.
“September could be the best month all year to sign a contract to buy a home,” Smoke asserts in an article on realtor.com.
He gives several factors for what will be such a special month for buyers. First is that there is a great supply of homes for sale right now. Supply was increasing all summer through August.
“As of the third week in August, inventory was at 1.91 million units, up 3% 
from July and up 21% from January,” wrote Smoke.
Alongside supply we must look at demand. The start of school means that many families choose to stay settled in their current home- at least for the school year. Due to this, demand for real estate has already gone down since many new school years have already started.
The last factor Smoke says makes this September the best time to buy is that mortgage rates are very low right now.
“Thirty-year fixed rates ended last week under 4% as a result of the recent stock market declines—sometimes a little turbulence in one area stabilizes others,” he wrote.
Rates are expected to climb to around 4.2% at the end of this year, so buying now ensures that buyers will have a very low mortgage rate.
If these amazing reasons do not convince you that September, and right now, is the best time for you to buy a home, maybe the amazing real estate available today in the Miami area will. RE/MAX Paradise is excited to help buyers like you take advantage of the now.