Why August Is the Perfect Time to Start Your Home Buying Journey

August might seem like an unusual time to think about buying a home, but savvy homebuyers know this late-summer month offers unique advantages that can save you money and reduce stress. Whether you're a first-time buyer or looking to upgrade, starting your home buying journey in August positions you for success in multiple ways.

Take Advantage of Seasonal Market Shifts

The housing market follows predictable seasonal patterns, and August presents a sweet spot for buyers. The busiest home selling months are May, June, July and August, with the average number of transactions during this four-month period accounting for 40 percent of the annual sales volume according to National Association of Realtors data. However, many homeowners prefer to wait until the spring or fall to list their homes, which means there could be fewer properties available for buyers to choose from during the summer.

This reduced competition in late summer means you're more likely to find homes that have been on the market longer, creating opportunities for negotiation. If a house has been sitting on the market for weeks or months, it gets a stink. At that point, your lower-than-asking-price offer will feel like a victory for them, notes real estate expert analysis. More inventory is becoming available — enough to improve buyer negotiating power. Attractive properties in hot markets are still selling quickly, but some metros — or neighborhoods within them — have flipped further in favor of buyers.

Recent market data shows encouraging trends for August buyers. After the busy summer season, the number of buyers usually drops in the fall. Fewer people are looking to move as school begins and holidays approach, creating more negotiating power for buyers: With fewer buyers, sellers may be more willing to negotiate on price. Discounts or concessions can become more common.

Perfect Timing for Fall Closings

Starting your home search in August allows you to target closings in September, October, or November – ideal months for several reasons. The weather is still pleasant for moving, but you'll avoid the premium pricing and scheduling challenges that come with peak summer moving season.

Fall closings also align well with the school year if you have children. You can complete your move after school starts, allowing kids to begin the year in their current school while you finalize the transition to your new home and neighborhood.

“Recent market data shows encouraging trends for August buyers. After the busy summer season, the number of buyers usually drops in the fall.”

Mortgage Rates and Inventory Advantages

Lower mortgage rates and rising inventory are giving home buyers a window of opportunity at an unusual time of year, according to recent market analysis. Late summer may be an opportunity for buyers who have been waiting in the wings for a monthly mortgage payment they can qualify for. Buyers have more options to choose from for two reasons: it's easier to qualify for more of the homes on the market now that mortgage rates are a bit lower, and more inventory is becoming available.

The housing market is becoming more buyer-friendly. Recent data shows there are now over 1.1 million homes available for sale nationwide – that's significantly more choice than buyers have had in years. What this means for you: instead of competing against dozens of other buyers for the same house, you're more likely to find multiple options that meet your needs and have room to negotiate on price.

Additionally, new inventory often appears in August as sellers who waited out the spring rush decide to list their homes. This fresh inventory gives you more options without the intense competition of earlier months, while homes are taking longer to sell, giving buyers more time to decide and more leverage in negotiations.

Save Big with Our Limited-Time Offer

Right now, Public Service Credit Union is making August even more attractive for homebuyers. Through August 31st, we're offering $90 off closing costs for all mortgage applications received before the deadline. This savings can significantly reduce your upfront costs, making homeownership more accessible.

Here's the best part: mortgage applications are valid for 90 days, which means you can apply by August 31st to secure your $90 savings and still have until late November to find the perfect home and close on your mortgage. This gives you plenty of time to shop around, compare properties, and make the right decision without rushing – all while locking in your closing cost savings.

Our streamlined mortgage process means you can take advantage of this offer while enjoying a simplified experience. Unlike many lenders, one dedicated employee handles your entire mortgage from application through closing – lending, processing, underwriting, and servicing. This personal approach ensures clear communication and faster processing times.

“Through August 31st, we’re offering $90 off closing costs for all mortgage applications received before the deadline.”

Financial Benefits of August Home Buying

Starting your mortgage application in August can also provide tax advantages. Depending on your closing date, you may be able to deduct mortgage interest and property taxes on your current year's tax return, providing immediate financial benefits.

The timing also allows you to budget more effectively for year-end expenses. By securing your mortgage in late summer, you can plan your finances around your new housing payment before holiday spending begins.

Preparing for Your August Home Search

If you're considering homeownership, August is the time to get your financial house in order. Start by reviewing your credit report and addressing any issues that might affect your mortgage approval. Gather necessary documentation including tax returns, pay stubs, and bank statements.

Consider getting pre-approved for your mortgage to strengthen your position when making offers. Our mortgage team typically provides pre-approvals within 24 hours for most cases, giving you a significant advantage in negotiations.

Local Market Considerations

Here in central Wisconsin, August offers additional advantages for homebuyers. The beautiful late-summer weather makes house hunting more enjoyable, and you can better evaluate properties with full landscaping and outdoor features visible. You'll also have a clearer picture of neighborhood dynamics with families settled into their routines.

“Don’t let August slip away without exploring your homeownership options. ”

Local moving companies and service providers also tend to have better availability in August compared to the peak summer months, making your transition smoother and potentially less expensive.

Making Your Move

Don't let August slip away without exploring your homeownership options. With our $90 closing cost reduction available only through August 31st, now is the perfect time to start your journey toward owning your dream home.

Our experienced mortgage team understands the local market and can guide you through every step of the process. We'll help you determine how much home you can afford, explain your financing options, and work to make your homeownership dreams a reality.

Ready to discover why August is your perfect home buying month? Contact our lending team today to learn more about our current mortgage rates and take advantage of our limited-time closing cost savings.

Ready to start your home buying journey? Contact our mortgage specialists at loans@publicservicecu.org or call (715) 842-9865 to learn more about our current rates and take advantage of our $90 closing cost reduction – available only through August 31st!

Equal Housing Opportunity. Rates subject to change. Visit publicservicecu.org/rates for current rates.