Question: Is July the best month to buy (read this from many sources)?

*My wife and I are seeking to buy a 3 cushion, leather sofa and reclining loveseat. We want to stay south of 5K.
*We do not want to buy Chinese or entry level furniture
*We want to stay w/mid-mid high, perhaps even high end furniture. Best bang for the buck

Question 2: We would like to be able to purchase HM but don't know if we can afford (even on line) or they even make a reclining LS. Is HM, BY, Barcalounger, Classic Leather possible or even probable or will we have to settle for Flexsteel, Henredon, or Bernhardt. Please any suggestions will be appreciated.