So real estate wisdom tells us that spring and summer are the prime seasons for house hunting and moving. People are more likely to get out and shop when the weather is nice. It is a more pleasant time of year, and sellers know their yards look better when not covered in snow. Yet there are some very logical and compelling reasons for going shopping for a house and moving in the winter as well.
Here are some advantages that show how you could benefit from house hunting in the winter;
Fewer Buyers to Compete With – It’s simple economics – the low demand will work in your favor.
Lower Inventory But Less Competition – In most markets, winter usually means a lower inventory with less houses on the market.
Prices Are Lower – When you have fewer buyers in the market, supply exceeds demand. This usually results in prices being lower than during the hot or peak season.
Sellers are Motivated – All the low activity in the winter will result in sellers being far more motivated to sell. Real estate agents know that the slow winter months are when sellers are more willing to negotiate
What Are the Seller’s Circumstances? There are the circumstances when sellers are forced to sell during the winter. Perhaps a job offer has dictated a winter move, or the seller may have personal issues that are dictating his/her actions – financial issues, divorce, etc. Again, this may work to the buyer’s advantage as the seller will be very motivated.
Fewer Chances That There Will Be Multiple Offers on the House You Want – Another reason that winter can be such a buyer’s market for real estate is that the fewer number of buyers competing for homes means that the chances of there being multiple offers on a single property are greatly reduced.