It's an often-asked question. When is the best time to buy a home? There are hundreds of possible answers to that question. On an annual basis, the best time is probably in the so-called off-season for real estate−fall and winter, when children are still in school and there are fewer people shopping for homes.

On an economic basis, it's very true that real estate moves through cycles, just as do the stock markets and bond markets−though real estate's cycles don't necessarily coincide with those of other markets. There is an economic season we call a seller's market, when there are more buyers than sellers of real estate. That reaches a peaking stage and moves inexorably into a season we call a buyer's market, when there are more sellers than buyers and prices are more flexible.

On a broader economic basis, there are seasons of overall economic growth and there are seasons of contraction or recession. A recession, if interest rates are favorable, is often a great time to buy a home, though many people who would otherwise consider selling may be waiting for a time when they feel more confident of their ability to buy another home and continue to afford the monthly payments.

The bottom line, though, is that the best time to buy a home is when you can, when you need to, when you want to−for the best possible life for yourself and those with whom you live. Prices do go down sometimes, but rarely. Waiting rarely pays off. If you can afford a home, consult your financial advisor and find a great real estate professional! Just call Beth at 425-450-5208.