Summer is the worst season. Instead, autumn is the most suitable month
Author: Inma Bermejo

Source: La Razón

Is buying a home in 2023 a good idea? “Inflation and the rise in interest rates and the Euribor are expected to cause a decline in transactions by between 12% and 15% and a decrease in home prices of around 5%,” predicts Fotocasa. However, experts agree that while the market will moderate in 2023, it will remain stable, according to the real estate portal. For all those Spaniards looking for or about to begin searching for a new home, Fotocasa explains which times of the year are best for buying.

Autumn is the prime season for buying a home. After summer, when the supply decreases and prices rise, the autumn months bring an increase in supply. “According to various studies, October is the most recommended month to buy a home,” as the number of new homes is higher and prices decrease, explains Fotocasa. Additionally, financial institutions often offer good financing conditions during this time, as they are in the last quarter of the year and aim to meet annual goals,” adds the real estate portal.

On the other hand, the worst time to invest in a property is summer. Fotocasa points out that during this season, the number of homes for sale is lower compared to the rest of the year, partly because many properties are used as vacation homes. This situation leads to a general increase in prices. Furthermore, focusing on household economics, expenses tend to rise during vacations, so your budget may not be in the best shape for buying a home. “However, summer months are a good option for reviewing the market and seeing what offers are available,” advises Fotocasa.

Spring is characterized by significant activity and high competition, with favorable weather that facilitates more property viewings. “First-time homebuyers looking in the second-hand market often choose this time of year as it’s a good moment to consider renovations. Conversely, buyers of second homes look for a place ready to enjoy during summer vacations,” explains the real estate portal.

Winter presents both positive and negative factors for buying a home. On one hand, the available supply during these months consists of properties that have not sold throughout the year, making it easier to negotiate discounts. However, household finances are usually not at their best due to holiday expenses and the January slump.