Still on the House Hunt? Here's Why the Holidays May Be Your Best Chance at Buying
Many think of the end of the year as a time when the real estate market begins to slow. But for frustrated buyers who came up on the losing end of bidding wars throughout the year, the holidays may be their best chance to buy.
With many buyers distracted by holiday events, travel, and the end-of-the-year rush, the returns could be great for those willing to stick it out and shop through the holiday season.
Michael Coburn, owner and broker of Re/Max Town and Country in Allen, Texas told CBS Dallas Fort Worth there are multiple benefits to house hunting during the holidays.
"Right now, you're going to have a chance where sellers are going to be more apt to give you time to do an inspection," he said. "[There's] a lot less chances of being in a bidding war like we were 3, 4, 5, 6 months ago with 15 to 20 offers. Now there may just be a few. Herein lies the advantage for the buyer who is willing to go now."
Additionally, a home that's on the market during the holidays may mean that the seller is more motivated to sell, allowing room for buyers to negotiate price and other contingencies. And since business across many industries tends to slow toward the end of the year, buyers may find it easier to get away from work to see houses. Meanwhile, real estate agents who typically experience their busiest seasons in late spring and summer will have plenty of time to devote to showings.
One more perk of house hunting during the holidays? Christmas décor, of course! There's something extra magical about finding a new home for the holidays—especially when it's expertly trimmed in the season's best tinsel and garland.