There are many opinions on what time of year is the best time to buy a home. While there may be a wide variance of what people say and believe, there is actual historical pricing data that shows when home buyers are able find a better price for a home.
Over the last three years, the below chart shows that buyers are more likely to purchase a home for a lower price either very early, or very late in the year. The red line represents home prices in Orange County. The blue line represents home prices across the nation.
As the year progresses, home prices tend to rise. There are many factors that play into these results, but as you can see from the charts above and below, the trends tend to be the same year over year. Low prices start the year, increasing prices towards the middle of the year, and another dip towards the end of the year.
Regardless of these statistics, every home buyer's situation is unique and should not deter you from making a purchase of a home. If a home's price fits your budget and your checklist of requirements, then you should probably move forward with your decision. Waiting for the end or beginning of the year could cause you to lose out on the opportunity to own a home you love.
There are still properly priced homes available during the middle parts of the year. You should never rush into making a home purchase. Always do your research, shop around, and be confident in your purchase decision.