If elevated interest rates have you feeling discouraged, keep in mind the silver linings of the season. Autumn can be a truly advantageous time to pursue homeownership. Here are some favorable fall factors to consider when weighing your options.

LESS COMPETITION
Because there are fewer active buyers, the number of showings per listing drops from October to December. Data from the Northwest Ohio MLS shows an average of 40% fewer showings in November than the annual peak in March over the last three years. Michigan tends to have the most showing activity in March or April, and November has an even steeper plummet with 48% fewer showings than the most active spring month.

As activity slows, homes sit on the market longer. In 2024 and 2025, the average days on market (DOM) in November and December were about one week longer for both Michigan and Northwest Ohio than they were in May. By January, the average DOM trends two to three weeks longer than May. Searching during the height of the season can lead to rushed decisions, while buyers have more time to think things through in late fall and winter. Plus, you may have more negotiating power on a home that’s been sitting on the market for a while.

LOWER PRICES
Prices dip during the fall compared to the highs of spring and summer. Between 2021 and 2025, Northwest Ohio’s November sales price averaged $15,498 less than the annual highs. Meanwhile, Michigan’s cold front also has a cooling effect on the market as November sales prices averaged $24,430 less than the peak of summer.

Additionally, if home values have a similar trajectory to the last couple of years, buying a home in November rather than waiting until next summer could save you 10% or more. The market slows significantly during the holiday season with the lowest sales prices typically in December and January.

STARTING NOW VS WAITING UNTIL WINTER
While winter may bring the lowest home prices of the year, fall offers a sweet spot for buyers who want a balance of affordability and selection. November can be an especially opportune time to begin your home search before inventory takes a seasonal dip. In Michigan and Northwest Ohio, housing inventory typically drops by 13% to 15% from November to December, meaning buyers who start their search earlier will have more homes to choose from. Waiting for the lowest price may not be worth it if the pickings are so slim that they don’t suit your needs.

OPTIMAL VIEWING CONDITIONS
Summer brings out our rose-colored glasses and can mask certain issues. Meticulous landscaping does a lot of heavy lifting when the weather’s nice, but the barrenness of fall can be a real eye-opener. How does the siding look when it’s not being covered by gorgeous hydrangeas? How much privacy do you have when there isn’t a shrub in front of your neighbor’s window? How much raking is required once that shady oak tree drops its leaves? What about storm drain and gutter cleaning? 

Fall also helps to reveal draftiness, poor insulation, heating issues, and thermal bridging that causes cold walls or frost formation around corners and framing studs. Furthermore, roofs can be fully inspected at this point in the season unlike after heavy snowfall when safe access and visibility are limited.

INTEREST RATE PREDICTIONS
Mortgage rates began steadily climbing in September with the Fed’s rate hike. The Federal Reserve doesn’t directly set mortgage rates, but they generally trend with the 10-year Treasury as this benchmark impacts the lending risk of financial institutions. 

It’s unwise to try to time your purchase based on interest rate predictions—but let’s just say that if your plan is to wait until rates drop, you could be waiting for a while. In a recent Reuters poll, 100% of responding economists foresee another rate hike in December. Fannie Mae also revised its forecast with much higher averages than previously projected. The organization now expects 30-year rates to average 7.4% in 2026 Q4 and increase to 7.5% in early 2027, potentially hovering there through the year. While this isn’t optimistic news for buyers, it further outlines the cost of waiting. Buying next year could yield the same interest rate plus higher prices. 

It’s that time of year when people start wondering if they should put off a purchase until after the holidays, so we hope this helps you see that fall can be a fantastic time to start your home search. You have the advantage of less competition, lower prices, and the chance to see how a home holds up in cooler weather. And with interest rate outlooks, waiting may not be the best strategy. No matter the season, the key is finding a home that fits your needs and budget. If you’re ready to turn over a new leaf, we’re here to guide you every step of the way!