January is the best time to buy a house
Posted Jan 20, 2015 7:23 am.
This article is more than 5 years old.
If you’re in the market to buy a house this year, statistically speaking, January is the time to act.
According to data collected by the Calgary Real Estate Board, the median price of a home in the city is nearly five per cent lower during the first month of the year.
On average, homes sell for $16,000 less.
John Mayberry with Calgary Home Boys and CIR Realty says there’s a reason for the low costs.
“There just isn’t a lot of activity going (on),” he says. “Everyone’s getting back into the groove from the holidays and any time you have a longer period of slower activity the sellers, obviously, are more willing to drop their bottom line.”
However, Anne-Marie Lurie, Chief Economist at the Calgary Real Estate Board says there may be a simpler answer.
“You know you start off the year, and if there’s continued positive economic momentum then you continue to see growth throughout the year, so January numbers appear smaller,” she said.
The most expensive time of the year to buy is in May and June: CREB’s numbers show the average median price is nearly $24,000 higher during those months than it is in January.
