Smart money buys during the holiday season. Here’s why.
When is the best time to buy real estate?
As an active investor, I’ve found that my favorite property purchases have happened in the November/December timeline, for a variety of reasons. Primarily, sellers are motivated, there are fewer buyers to compete against, and there’s more active inventory due to the slowdown in sales. Additionally, other investors want to sell their property before the end of the year for tax purposes.
In the week prior to the filming of this video, the statistics showed over 430 price reductions and just 375 new listings. With over 4,000 active homes on the MLS, you understand what I mean when I say there’s a slowdown in sales. Also, the average days on market for listed homes has gone up.
Interest rates are as low as they’ve been in a long time, which is another reason why now is a great time to buy, but what you might not know is that lender pipelines aren’t as full this time of year. This means a quicker, less-stressful closing for you.
At the beginning of next year, you’ll start to see many first-time homebuyers shop for homes. If you do the same thing, you’ll face this increase in competition, and you’ll have to act fast to get the home you want. You might even have to deal with a multiple-offer situation.
The bottom line is, smart money buys during the holiday season.
If you’d like to start your home buying journey or you have any other real estate questions I can answer, don’t hesitate to reach out to me. I’d be happy to help you.