While many people understandably shy away from the housing market during late fall and winter, this actually may be a great time for you to sell your home. In fact, Lawrence Yun, chief economist at the National Association of Realtors, predicts “…it will be one of the best winter sales years ever.” Here is why:
Low Supply of Homes and Low Rates
With today’s real estate market and so many buyers wanting to purchase homes (as compared with historical norms), and a relatively small number of homes for sale, you could find selling your home in late fall and winter to be the perfect time to sell. Low mortgage rates have given home buyers more purchasing power and empowered them to buy now.
With the spring 2020 real estate market being affected by COVID-19, many potential home buyers delayed their purchases and have created a pent-up demand. The purchase season has extended from spring into winter. Their home search is happening now!
Serious Home Buyers
People are usually busy this time of year, so if they take the time to see your home, they are probably considering purchasing it. With less competition of homes on the market this time of year, your home could catch the eye of that serious home buyer.
January is the popular month for people relocating to a new area to begin their jobs and they typically need to purchase a home in November and December. They will have a short time to find their next home – and it could be yours that they want to buy.
Move After the Holidays
If you sell in late Novermber or December, you will probably will not have to move until after the holidays in late winter or early spring.
Helpful Hint about Holiday Decor
If you decorate for the holidays, hold back on pulling everything out from the attic or basement. Remember, people want to see your home – not your holiday decor.
Looking for a home? Start your search now!