3 Reasons Why It’s A Good Idea to Buy A Home During the Holidays
According to Trulia, inventory of starter homes increases approximately 7% between October and December of each year. This is mostly because of the abatement in home buying at this specific time. Once school starts up, the financial focus tends to be redirected towards the upcoming holidays. For anyone considering the purchase of a home in the latter part of the year, this is a significant incentive to continue your home shopping well into the holiday season. Let’s look at three good reasons why the holidays are an excellent time to buy a home:
Demand is down
Think of the standard rule of supply and demand. Home prices typically drop to a 12-month low in December. Demand is low, supply is up. This makes home buying a buyer’s market. Houses will sit on the market for a longer period of time before receiving an offer, which enables the buyer to initiate a price war with the seller. This usually enables the buyer to obtain the home for a lower price point.
With demand down, sellers are more likely to accept lower offers. Usually, if a house has been sitting on the market longer than thirty days, the seller starts getting antsy and impatient. There aren’t too many people interested in relocating during the holiday season, use that to your advantage. After all, tax season is just around the corner. Income tax refunds usually flip the coin back to a seller’s market.
Work that holiday cheer
Sellers and realtors are in good spirits, celebrating the holidays, embracing the excitement of spending time with family, and opening presents. They’re more likely to be lenient or even generous. Very few potential homebuyers are out looking at homes the last few weeks prior to Christmas’ arrival, so the chance of multiple offers or any competition is pretty minimal. This can be used to your advantage if you act quickly. Get that offer in! You just might have a little extra green just in time for the holidays!
Check out our current listings. While everyone is standing in line to see the cashier, you can be setting up appointments to view our model homes! We have communities in Fort Walton, Navarre, Crestview, Shalimar and now we’re building in Milton. Just think, your holiday decorations won’t be in the attic! You can just unpack them straight from the moving truck and decorate as you go! Get ready to say “Welcome Home!”