Less Market Activity
Busy social calendars combined with the cold weather leads to fewer real estate transactions over the holidays. Since there are less buyers in the marketplace you will have less competition for for the house of your dreams and this gives you leverage.
Keep this in mind as you search for homes, listed prices may be open to negotiation.
Sellers who are listing their homes over the holidays often have an incentive to sell, such as relocation or a growing family. That incentive is even more if the house has already been on the market over the Summer and Fall.
You can use this urgency to your advantage, negotiate fairly but firmly with sellers and you may be able to get a lower price or other concessions.
Better Interest Rates
Within the general trend of interest rates, there are often lower interest rates during the holidays. This is due to less buyers in the marketplace which creates greater competition among lenders.
There are plenty of factors that can obscure this cycle, but in general, you should see preferable interest rates around the holidays compared to immediately before or after.
Faster Closings – Generally, all parties involved in the purchase have incentive to complete transactions toward the end of the year. Lenders want to close their books, sellers want to move on to their new home and settle in for the holidays and you ,of course, will want to settle in as well.
Since all parties are motivated and there are fewer transactions happening during this time, it should be easier to put everything in place for a smooth and rapid closing.
You may find that buying a home during the Winter holiday season is the ideal time for you! If you're looking to start the search for that perfect home, please contact us today!