Buyers, Why Winter May Be The Best Time To Stay Active
As the holiday season approaches many buyers put their search on hold and decide to pick back up in the new year. This opens up opportunities for those buyers who continue their search through the winter months. "Seasonality is the idea that the real estate market, including the prices of homes and the sheer supply and demand of homes on the market, may fluctuate based on seasonal factors such as holidays, weather, and more"(https://www.hsrea.com/blog/how-the-seasons-impact-the-real-estate-market). This factor influences many buyers throughout the year and it can be leveraged to level up your buying strategy.
Here are three considerations to keep your search alive and take advantage of seasonality in the real estate market.
1. You may be able to get your home at a lower price than in the Spring or Summer months.
Although a slower market means less inventory, it also means less buyer competition. Seasonal weather can be a big consideration when it comes to moving. With less buyer competition we may see homes sitting on the market longer than usual which gives buyers an opportunity to get into a home at a more desirable price point.
2. Are sellers more motivated to sell their homes before the end of the year?
Consider why you may want to put your home search on hold. Spending time with family, getting ready for the holidays, and preparing the year's end for the upcoming new year. Sellers may be just as eager to get their property sold and move onto the next stage of their lives for many reasons buyers are putting their search on hold. A funny inverse relationship. Moreover, many sellers are hoping to take advantage of the sale for tax purposes before the end of the year. This may be a great time to take advantage of seller motivation.
3. Avoid the rush back to the market
There is a collective consciousness in real estate and seasonality is no stranger to a herd mentality. As the new year approaches, all of the buyers who put their search on hold for the holiday season may flood back to the market to pick up where they left off. This return could mean more competition amongst buyers and paying more for your new home.
We know that every buyer needs to make the decision that is best for themselves and their family. Rooster Homes brings clarity to market conditions so you can make educated decisions that set you up for success.
Want to discuss this further or simply have a question about your home search needs, give me a call. I'm here to help.
Your Trusted Real Estate Advisor
Sarah Arlington
(818) 296-7282
sarah@roosterhomes.com
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