Helping Buyers Take Advantage of the Slower Winter Season
Why Should Buyers Look For a Home During the Winter?
In many supply constricted markets, buyers need all of the help they can get. And that’s why winter can be a great time for house hunting.
Winter is generally the slowest season for home purchases. How can your buyers capitalize on this?
Why is Buying a Home During the Winter a Good Idea?
According to Realtor.com, the number of homes on the market during any given month is fairly consistent throughout the entire year. The main difference is the level of demand, which is higher during the warmer parts of the year.
On average, June is the busiest month for home sales, with approximately 75% more sales than in December (which is the slowest month of the year.)
This is great news for buyers in a supply-strapped housing market. Throughout the country demand is frequently higher than the available supply of homes, but winter provides buyers with a welcome advantage.
Things for Buyers to Consider When They’re Looking at Homes during Fall and Winter
You may need to spend some time educating your buyers, explaining why it’s such a great idea to look for their next home during the cooler months:
- Sellers are more motivated. Sellers also know that winter is the slow season for home sales, so they’re likely to be highly motivated to sell. They might also wish to sell before the holidays arrive.
- There’s less competition. It’s worth mentioning again, because less competition is a huge pro for homebuyers. With fewer buyers who are interested in a property, the sellers could be more willing to negotiate on price.
- Inclement weather is actually great for viewing a home. If it’s raining or snowing outside, that’s actually wonderful news — the buyers can now look for leaks, check for drafts, and see how well the furnace functions. It’s also the perfect opportunity to see how water drains away from the home’s foundation.
- Explain that the curb appeal might take a dive. During gloomy, gray winters, a home simply won’t look as appealing from the outside. Urge buyers to focus on the inside of the home.
Finally, be sure to mention that business is slower for you during the winter, which gives you more time to focus wholly on your motivated buyers who are interested in purchasing a home during this time of year.
When Does The Winter Season End In Real Estate?
The window of opportunity for taking advantage of the slower winter season is short. According to Realtor.com, September to the beginning of February is the time to look and buy, with January being the best bet for buyers. By February the seasonal cycle will shift back to a seller’s market.
Learn more about how a Home Warranty can save homeowners from unpleasant financial surprises and add value to your business.