Maybe you were planning to buy a house this year but haven’t found anything yet — and panic is starting to set in because you’re worried you’ve missed the housing market season.
It’s common you’ll find a higher number of listed properties in late spring and summer. That means, if you’re in the market for a new home, you have more options to choose from, but you also face stiffer competition.
Traditionally, fall and winter are quieter, but if you find a place you like, you may be able to get a better deal on it.
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Potential homebuyers, however, may be able to take some comfort from the picture being painted by recent data that suggests this fall may be a great time to buy a new home.
“There’s a lot of uncertainty out there, and some buyers are just waiting to see what happens,” Zillow senior economist Kara Ng said in an article published July 20. “So, if you’re able to buy, fall could be a sweet spot since you won’t be competing against the pool of buyers waiting on the sidelines.”
One of the main reasons this fall is shaping up to be a good one for homebuyers is that, according to Zillow data, the inventory of homes for sale is the highest it’s been since July 2020, with the number of listed homes up 20% from last year.
At the same time, for the past two years, October has seen the highest inventory of the year as homes listed earlier remain unsold. Zillow anticipates this seasonal pattern will repeat this year after a “lackluster spring” during which buyers didn’t show up.
A fall with high inventory and fewer buyers means that if you’re in the market for a new home, “you’re likely to have more time to decide on your options,” Ng said. “You have time to really consider if that home is the right fit for you.”
With fewer buyers, you’re also less likely to endure a bidding war for the home you want and you may have more negotiating power.
In some markets, prices aren’t rising as quickly as they have been over the past few years.
Home values across the U.S. grew by 45.3% between February 2020 to 2025, Zillow reported earlier this year — a rate that’s more than double the historic rate of increase.
As of July, the median sale price for all home types was $443,462, according to Redfin. But the market is cooling, and Zillow is predicting “a decline of 1.4% in home values nationally by the end of the year.”
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At the same time, “the share of listings with a price cut in May climbed to 26%, and many sellers are sweetening deals with concessions such as covering closing costs or buying down mortgage interest rates for the first one to three years,” according to Zillow.
These pricing dynamics could be a sign that the market is becoming more balanced in a way that “favors buyers and sellers equally.”
While Danielle Hale, chief economist at Realtor.com, agrees that we’re heading toward a more balanced market, she points out that this varies regionally and that affordability still remains an issue.
“Even with more homes on the market, buyer response has remained muted compared to what we’d expect from similar supply shifts in the past,” she said in a news release, commenting on Realtor.com’s mid-year housing forecast update.
“In regions like the South and West, inventory gains have been more substantial, but affordability constraints continue to weigh on demand,” she said. “Meanwhile, the Northeast and Midwest remain tighter markets with relatively steadier buyer activity.”
Whether you should take advantage of an improved buyer’s market depends on your personal circumstances. If you’re a first-time homebuyer, the Consumer Financial Protection Bureau suggests you have at least two years of reliable, regular, steady income, as well as good credit.
Ramsey Solutions, which offers personal finance education, recommends you first pay off all your other debts and build an emergency fund with three to six months’ worth of expenses. From there, you’ll need to save up a down payment — preferably 20% or more so you don’t have to pay mortgage insurance. You’ll also need to budget in closing costs and have funds available for moving expenses.
Before you start searching for houses, be sure you can afford all of your monthly housing costs, including your mortgage, property taxes, homeowners insurance and (potentially) homeowners association fees — all of which shouldn’t total more than 25% of your take-home pay, according to Ramsey Solutions.
Another consideration from Ramsey Solutions? How long you plan to live there. That’s because “it usually takes at least five years for a home’s value to grow enough to keep you from losing money when you resell it.”
If you can satisfy these requirements and still feel you’re ready for homeownership, you may be looking at a market more friendly to buyers than the U.S. has seen in a long time.
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This article provides information only and should not be construed as advice. It is provided without warranty of any kind.
