A shift is happening in the housing market, and if you've been waiting for the right moment to start your homebuying journey, now is the time. The best week to buy a home in 2024 is almost here, and "your sweet spot is here."

Experts at Realtor.com study seasonal trends to determine the ideal time for buyers:

“Nationally, the best time to buy in 2024 is the week of Sept. 29–Oct. 5. This week historically has shown the best balance of market conditions that favor buyers. Inventory tends to be high, prices are below peak levels, demand is waning, and the pace of the market slows to a more manageable speed.”

Beyond these trends, current market data also shows better conditions now than in recent years. Mortgage rates have just dropped to their lowest point in 19 months, which boosts your purchasing power. According to Andy Walden from Intercontinental Exchange Inc. (ICE):

“Recent easing in mortgage rates brought some much-sought relief to prospective homebuyers. Along with a general cooling in home price growth, rates falling below 6.5 percent made August the most affordable month for housing since February.”

Ralph McLaughlin, Senior Economist at Realtor.com, also notes an increase in inventory:

“The number of homes actively for sale continues to be elevated compared with last year, growing by 35.8%, a 10th straight month of growth, and now sits at the highest since May 2020.”

With more homes on the market, sellers are facing more competition, making them more likely to negotiate. As Zillow puts it:

“Buyers waiting on the sidelines could find that early fall presents a ‘sweet spot,’ where there’s less competition from other buyers, more motivated sellers, and lower interest rates to finance their purchases.”

Bottom Line:
If you're ready to take advantage of this ideal market window, let’s connect. Now’s the perfect time to make your move in Conejo Valley and start finding your dream home.