Some people believe that the holiday season is one of the best times to buy a house and there are some good reasons why they think so.
there seems to be less competition during the holidays. The same issues that make holiday moving a hassle tend to keep people from shopping for homes at that time. There may be fewer homes available but there are also fewer homebuyers which equals less competition for any home that fits your needs.
Nobody wants a home sale hanging over their heads during the holidays, so sellers may be a bit more motivated. It’s likely that people who are selling their homes over the holidays are highly motivated to do so. Perhaps they must relocate for a new job, or their home has been on the market for a long time and they need the money from a sale before the year is out.
Home prices seem to be lower during the holidays. For a variety of reasons that may include the ones mentioned before, December historically has lower home prices than any other month. There is always a chance that this year may be different so it’s worth checking prices within your local market.
The holidays also signify the end of the year and people are in a hurry to get all their transactions completed before years end. Buyers want to be in their new homes before the end of the year, and lenders want to include the loan on the current year’s books. All this means that real estate deals will move along more quickly during the holiday season.
Real estate agent’s may be more motivated during the holiday season. Lower activity in the housing market means that real estate agents are dealing with fewer clients. This means they have more time to devote to your situation, and, with fewer sales commissions available, they may be just a bit more motivated to bring your purchase to completion.
If you’re buying or selling a home, the holiday season may be a good time to do it in.