I've been in the real estate industry for over fifteen years and have observed innumerable patterns in the market during this time. For instance, it has been my experience that December is typically a slow period and there are not many transactions taking place. Children are on break from school, the weather is bad, and the pressures of the holidays preoccupy too much of people’s time. I find that sellers tend to get overwhelmed if they first list their homes during this period. However, if you are a buyer in the market, there are disadvantages as well as advantages to moving forward with your search for property.
During December, there are typically fewer homes on the market as people are waiting until after the holidays to list. Several agents may be in vacation mode with their families as well, so be sure to find one who can accommodate your schedule. In addition, if you have family visiting or your children are home, it may be a hassle to find the necessary time to go out and look at properties.
In spite of these possible setbacks, as a buyer, you may actually have the upper hand if you continue house-hunting during this time. Since there are fewer buyers searching, you will have less competition if you choose to make an offer on a property. Likewise, a real estate agent who enjoys working during this season will have more time to focus on you and your purchase because they will have fewer buyers with whom to work. Interest rates are still low so you may have the added benefit of finding your dream home for a lower price as well as locking in on a mortgage rate before they rise.
Just because the holidays are upon us does not mean that the market comes to a screeching halt. In fact, this is the first time in many years that December has been busy. Many attorneys and mortgage brokers we work with are experiencing the same trend. They are flooded with work because more and more people are beginning to see the value in buying property at this time of year. Do not hesitate to begin or to continue your search simply because the holidays are around the corner. I have an office full of qualified agents who are eager to be of service to you. Call us today, and we will match you with the right agent!