If there’s one thing that separates a winter buyer from a buyer during any other season, it’s that they are committed and intent on finding a home as soon as possible. A winter buyer knows what they want, is hungry to find it, and ready to move if and when the opportunity is right.
How else can you justify tossing on layers of clothing and trekking around town to check out homes?
There are some pros and cons to house hunting during the winter months. For starters, one major pro: if you’re looking to buy a home during the winter months, you’re likely not facing much competition. The vast majority of buyers are hibernating through the winter, eyeing up the spring to get out there and find the home that fits the bill. The same can be said for sellers who wait until the spring to list.
Now for the con: The real estate market tends to slow a bit during the winter months. In other words, there aren’t too many people looking to pick up and move during the time between Thanksgiving and New Year’s.
Depending on the weather, you may see an uptick in homes hitting the market by mid to late January. However, if we have one of those winters where we’re shoveling paths through mounds of snow, well, the market is going to wait for some of that snow to clear, too.
That being said, there are still homes on the market, either new ones plopping down For Sale signs on the front lawn, or anxious sellers sitting on older listings waiting for offers.
Which season would you rather buy in: the one where you stand to benefit from fewer competing offers, or the one where a buyer frenzy leads to multiple offers on a home you like?