The best time to buy a house in DC area

WASHINGTON (WUSA9) -- When is the best time to buy a house, summer or fall?

Real Estate expert Mary Lou Dell from W-C Miller Long and Foster, shares the pros and cons.

According to Dell, August is a very good time to buy a house.

Since people are on vacation, and congress is not in session during this time, the market is slow and the interest rates are so good- right around 4.1 interest rate.

However, the fall is a popular time for people to buy houses because they are back from vacation and want to start looking for property. This is when the market starts to go back up again. Plus, more houses are on the market in the fall.

On the other hand, you can see prices going up in the spring because it's a hot market.

Dell says when looking for a house, you should pay attention to the interest rates on the mortgage. She doesn't advise buyers to wait for interest rates to go down because you don't know if they will.

So what should you do? Go now and check out houses.


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