Every year, I meet somebody who says they want to buy a home but they think they’d rather wait until after the first of the year. They’ve heard that the holidays aren’t the greatest time to buy a house. Conversely, now may be the greatest time of the year to buy a home. Let me dive into why that is.
Most of the sellers looking to test the market won’t go through the inconvenience of having their home on the market and having it shown throughout the holiday season. This year, we’re at an all-time low in inventory so if a seller puts their home on the market, it’s likely going to sell and they’re likely going to get what they want for it.
During the holiday season, there are fewer homes that come to market. That means that sellers who list their home at this time of year typically are more serious about selling. Additionally, buyers who buy during this time of year are more serious about buying. If you’re a buyer looking to buy during the holiday season, you may find a seller that’s quite motivated to sell. There may also be fewer opportunistic buyers in the market, which means you may be able to get a little bit better deal.
In the last month, in Austin, TX, I’ve had two buyer transactions below $400,000 and I’ve been able to get the property 5% below the listed price. In the peak season this year, that was unheard of. Everything was selling 20% over the list price. I strongly encourage you to see what’s available in your market and if you think about buying, don’t hold off. Get started now and take advantage of the lull on the market because all the predictions say that spring 2022 may be the strongest spring that we’ve seen yet.
If you’re ready to take action or if you have any questions, don’t hesitate to give us a call. I’d love to help you.