Loan Officer | NMLS #834554
Branch NMLS #1607863
Posted On November 23, 2017
Happy Thanksgiving from our family to yours! Home buying and selling activity typically slows down this time of year, due to colder weather, hectic schedules, and holiday travel. According to Realtor.com, with many home buyers delaying their search until the spring, the holiday season might actually be the perfect time to buy.
Less Home Buyer Competition
One of the most common issues the housing industry has faced recently is limited for-sale inventory. Home buyers who have struggled with this problem may see the market open up in the winter months, and have a chance to make an offer during the less competitive season.
Motivated Home Sellers
Chances are, if a seller still has their home on the market into the winter months, they are in need to sell. Conducting open houses in the midst of hosting holiday get-togethers can be an ambitious undertaking. The seller might also be looking to claim end of year tax advantages. A motivated home seller can bode well for the buyer because they may be more flexible with the offer and terms.
End of Year Tax Advantages
Both sellers and buyers may benefit from end of year tax advantages. It is best to consult a tax professional or financial advisor to learn more about specific tax incentives for each situation.
Realtor and Lender Accessibility
Since the winter months are a slower season, housing professionals may be more available. This includes real estate agents, lenders, inspectors, movers, and anyone else needed for the home purchase process.
Shopping for a home during the holidays can prove to be a success for both the buyer and the seller. Less home buyer competition, motivated home sellers, end of year tax advantages, and availability of housing professionals are all top reasons to buy during the slow season.