Why Buying a Home in December is a Smart Move

December is usually when people are looking to deck their own halls—not buy new ones. But buying a home in December can be a smart move.

The holiday season is a 'lull' period in real estate sales, and less buyers shop for homes this time of year. Savvy home buyers should take advantage of this time if they’re serious about buying.

Why?  Here are a few good reasons to purchase your new home before the New Year.

 

1. There is less competition for available homes. People know they’re going to be busy or traveling during the holidays, so a lot of buyers will postpone looking until after the New Year. There are still homes on the market, but not as many people shopping. This is an advantage to buyers.

2.  It's no picnic selling your home during the holiday season, so the sellers who have their homes listed this time of year are motivated. There are many reasons why someone may need to sell their home; they may be relocating for their job, they may have had a major life change situation, or may be having financial difficulties, among many other reasons.  Most of those sellers have a timeline to meet and are anxious to get the sale closed and move on. This is an advantage for buyers, especially when it comes to negotiating.

3.  During the holiday season people are generally in good moods, celebrating, enjoying family and may be more inclined to be generous, even if it means coming down on the price.

"Home sales tend to rise along with the temperature. According to Realtor.com, 50% of homes are sold in summer. But if you want to get the best deal—and avoid a bidding war—your odds are best when the weather turns colder and the days grow short", says Lawrence Yun, chief economist for the National Association of Realtors. "Year after year, closings in January tend to show a dip in prices, suggesting that buyers who made offers in November and December got the best deals", he says. 

So, if you're a serious buyer, finding your new home in December could be a really smart move.