The Most Popular Time to Search for a New Home in Chicago

home sale photosWe all know that some times of the year are better for house hunting than others. No one seems very interested in purchasing a new home in Chicago during the busy holiday season, for example. Yet, when it comes to the best time for house hunting, each region of the U.S. has its own ‘peak’ housing time.
In the Chicago area and throughout the Midwest, house hunting peaks in the springtime, which seems reasonable given the region’s intense winters. Also, during the spring, people feel more optimistic, are more likely to accept change and crave more space. If you’ve been renting all winter and are tired of being cooped up inside, it may be tempting to start the hunt for your own home with a spacious yard.
No matter the weather, however, there isn’t a single state that has a peak housing season in September, October November or December, and housing search activity in all states peaks in March and April. Even the warmer states have low search activity during October, and in December each state is 10 percent or more below its search activity average.
So, if weather really is a factor that effects when people house hunt, why does every state experience low search traffic in late fall and early winter? The answer is that no matter the location, buyers prefer searching not just in warmer months, but in dryer months as well.
For prospective home buyers, house hunting during the holidays or off-season could actually be a good thing—there will be less competition from other buyers. Home sellers, on the other hand, should try list their homes during the home search peaks for the most exposure to potential purchasers and a faster sale.