What’s the right time to buy or sell your home, and 5 steps to jumpstart your 2025 move
January 31, 2025
Dear friends,
A few months ago, I announced that I was going independent. I’m still immensely grateful for all the support you’ve given me—it’s really made the transition feel so right, and I continue to be reminded of why I made this momentous decision in the first place. It’s about the people I’m lucky enough to help, and the journey we’re taking together.
I believe that the New Year shouldn’t be about committing to unrealistic goals but about taking stock, reflecting, and then taking action!
In my world, that means getting ready to fall in love with your next home. And early in the year is the perfect time to start thinking about it.
Why?
Well, for one, buying a home is a looooong process. The average time it takes is 6 months. (Which is why it’s so important to work with a real estate agent that, you know, you actually like. Because you’ll be talking to them a LOT.)
And there are also times of the year that are better than others to buy or sell, although it really depends on your specific personal circumstances.
For one, many buyers who have kids like to start shopping in the spring—that way can be all moved and ready to go in time for the start of the school year. This is why statistically, March is the best month for sellers to list their homes.
However, buying at this time doesn’t always make sense for everybody, because there is more competition, and potentially bidding wars.
So, it’s really great that you’re thinking about this now. Whether you’re buying or selling, you’ll want to use this time to start planning ahead. Maybe that’s kind of a New Year’s resolution after all (oops).
Here’s how to consider the next phase of your housing journey:
What’s the right time to buy or sell your home?
You can’t really time the market. Looking back at the past two years, interest rates have continued to be unpredictable. Even the Fed kept changing their projections. But the bottom line is that mortgage rates are still hovering around 7%. Home values are also barely budging (except in some Manhattan neighborhoods, where we are seeing great value). From a financial standpoint, the macroeconomic indicators are pretty unhelpful.
What about the time of year? A lot of experts will tell you that this or that season is the best time to buy or sell a home. We do have some data about this (Zillow has some findings). But data can only get you so far.
You’ll need to think about your own situation, like if you’re planning to start a new career that might require you to move, or if you were fortunate enough to get a mortgage when rates were something like 2%. I analyze these scenarios for my clients every day and the math doesn’t always work out to move.
Starting, or adding to, a family is another big one. Love doesn’t wait for the market to shift in your direction! And while timing your move to the school year might mean shopping when there’s high inventory, it could also mean competing with every other new parent in your area. As a buyer, you’ll have to decide if paying extra is worth it for your particular timeline.
Visiting my first ever home in hometown Zhuhai during Thanksgiving with my dad and aunt!
Buying and selling your home in winter
I hear from a lot of clients that they believe they can get a better deal in the winter. And all else being equal, they’re often right!
But here’s the problem: there’s less inventory in the colder months. Moving in the winter is just awful! Sellers know that buyers don’t want to brave snow and icy roads, so they don’t usually list in the winter because they won’t make as much. What does get listed often sells for less than what goes up just before summertime. Which is good news for buyers—unless Santa doesn’t deliver their dream home.
How does the market affect the home-buying process?
Finally, you might be scanning Bloomberg or the Journal for signs of economic health and/or malaise. The new year’s calendar will be rife with important dates! Quarterly earnings calls, Federal Reserve meetings, jobs data, Consumer Price Index releases, blah, blah, blah…
My advice to you is, well… not to ignore it, per se, but also not to make the macroeconomic picture the be-all, end-all of your decision to buy or sell your home. The last year was full of important calendar dates, too!
In the end, the only timeline that matters is yours.
With my elementary school friend Claire, with Zhuhai’s ocean in the background
5 steps to jumpstart your 2025 move
If you’re hoping to buy a home, sell your home, or even just to do some window shopping this year, this is what I would do.
1. Talk to your partner!
Money conversations can be difficult, but the decision to buy or sell your home is just about the biggest financial commitment one can make. Be prepared to compromise on everything from location to amenities to timeline, and, of course, price.
2. Talk to me!
Or other trusted real estate agents, but hopefully I’m among those you call upon! We understand how the system works: how long it takes, how much it’ll cost (and how much you can save), and what you can expect. We have knowledge of the housing market in your area built on a combination of years of experience and intel.
3. Research the housing market and similar homes in your area.
Many people use services like StreetEasy and Zillow to window-shop, but my clients know I can help set up their window-shopping to be more tailored to their situations. Early in the process, you might have no idea what you want, but even one conversation with an experienced agent can help you figure it out.
With my dad and husband back on a childhood road in Zhuhai
4. Start getting your finances together now.
Whether that means working on your credit score, putting money away in a high-yield savings account, adjusting your 401(k) contributions, or finally applying for that better position.
5. Get preapproved for a mortgage.
As you draw closer to the date when you’re ready to look at homes, getting preapproved assures you can act quickly and be one of the first to make an offer. I can introduce you to trusted lenders I have partnered with, and they’ll tell you what you can afford, what documents you need, and what steps to take.
On the other hand, it’s only the beginning of the Year of the Snake , and I totally forgive you if you’d rather stay in your 除夕 (New Year’s Eve) food coma a bit longer than think about moving.
But hop on a call with me for 20 minutes and I might be able to change your mind!
Let’s talk! (Sign up for your spot here!)
Xo,
Judy