When is the best time to sell or buy?
Buyers think when the market fall it’s going to keep falling.
Sellers think when the market rises it’s going to keep rising.
The truth is it’s really difficult to predict what the market’s going to do. Big events, such as Covid, inflation and government-imposed criteria for banks when it comes to lending, can change the game. Interest rates and the time of year can also play a role.
For instance, most people think the best time to sell is in summer or its shoulder months, but that’s not always the case. With fewer properties on the market in winter, there’s more competition for those properties, which can drive prices up.
When it comes to buying and selling, there are two main things that are important:
- You do it at a time that suits you personally, and
- You buy and sell within about 6 months, as the market is unlikely to change dramatically in that time.