Today, home buying season is basically every single day of the year, with buyers taking advantage of the on and off-season perks. The season in question still remains around spring, but Christmastime has also grown into a home-buying frenzy as of late. Summer and fall are now considered off-season. Then again, does it matter?
Buying a home off-season puts the buyer in a better position. During this time, Realtors struggle to do everything to sell in a less active buyer base like lowering their prices, making attractive offers, and so on. However, take note that there are fewer houses for sale during the off-season; some homeowners are not keen on letting go of their house while winter is in full swing.
On the other hand, buying during the season means more homes to choose from but at the expense of higher prices. It's not necessarily another housing bubble; just the law of supply and demand at work. Prices go up when goods are in demand and supply runs low due to the increase in demand. You'll also face stiff competition from other buyers who may work on friendlier terms.