Much has been made about the housing market slowly but surely beginning to thaw. But even before the housing bubble burst, prospective buyers commonly viewed the colder months of the year as an awful time for home shopping. That hasn’t changed.
That doesn’t, however, mean the market is headed for a deep winter freeze. There are many benefits to home shopping outside of what most consider peak home-buying season.
In a recent MSN.com story, Bob McWilliams of Champion Realty in Annapolis, Md said there’s less competition a few competitive bids, so buyers can hope for bigger discounts. Realtor.com claims home prices are lowest in December.
Winter buyers generally have more leverage in negotiating terms of the sale, including extending the time to close and other concessions.
The greatest issue prospective buyers run into is weak inventory. According to McWilliams, “The number of listings that come to market in the spring is 65 percent higher than what we see in October, November and December.”