In general, there are four stages in the purchase
- Feeling the Need
In this stage, the real estate buyer starts to recognize the need for a new home. A simple example would be a young couple with 1-bedroom condo apartment in Yaletown, having a baby on the way, or a couple whom live in large 4-bedroom house in Kitsilano and all their other family members are moved out. The first couple feels the need to expand their square footage and move to an either a house or a condo apartment for sale, and the second example is a feeling the need to downsize scenario.
- Pre-Purchase Activity
In this stage the real estate buyers actively starting to look for homes, hitting open houses, and decide what criteria, type of property and budget is perfect for them. They discuss their need with their agent and start searching for a Vancouver home for sale.
- During the purchase
This is an emotional stage where exciting feeling of buying a new home can easily be turned around by prices, shape of the home and many negative thoughts buyers go through. When all these emotions are overcome, the buyers are ready to make an offer on the house they saw few days back and have been debating all its issues. This is a purchase stage.
- After the purchase
This is a relief stage as the purchase is completed and all the real estate buyer needs have been satisfied. This stage is a happy stage where the buyers settle in their new home and start to enjoy what they really needed.
When the “feeling of need” stage appears in any real estate buyer’s life, no matter the season, time and year, it is the right moment for that buyer. So generally there is no specific best time to buy a home. The more the buyer waits, they practically put their life and needs on hold.
In general Spring time is the busiest market because of surge of listing have been placed on Vancouver MLS® and search for home platforms. This season is also suitable because of its good weather so the sellers look after the beautification of their property and do spring cleaning.
Fall is a second busiest because many parents have more time on hand when their kids are back to school and as a buyer they can have more homes to view.
Winter is generally slower season and less inventory, because of holidays and weather situation.
Summer is a family time and many sellers don’t list their property since they are either away or want their family freedom.
But no matter the season and time, when a real estate buyer feels the need to purchase a new property, there are always inventory available. If the inventory is not on MLS® a good Vancouver Realtor can find all exclusive Listings and private sales from his extensive network.