Another great article has come out analyzing the tricky situation surrounding the Holidays and real estate. We thought we’d share some of the things that were mentioned in the article 5 Surprisingly Smart Reasons to Buy a Home During the Holidays and let you know how if this is true or false as it applies to the Utah market.
Less competition from home buyers
Absolutely true. We saw a decline in home mortgage applications and in home showings during the month of December. Because much of the state is in the cold, wintery spirit, activity among open houses and schedule showings declines. There is certainly less competition from home buyers during the Holidays.
Motivated (OK, desperate) home sellers
Absolutely true. We see a lot of sellers take their home off the market with hopes of putting it back on the market in March at a new, higher price. Those that wait out the cold months with their home on the market and during the Holidays definitely are motivated and it gives you a chance to snag a deal.
Greater accessibility to professionals
This is also true. Because the market slows during the holidays, doesn’t mean that the working professionals in the real estate industry have also slowed down. As a matter of fact: lenders, title, inspectors, etc. are even more ready to jump at the opportunity to get your home sold because of the slow in their schedules.
The Holidays are absolutely a time to buy and find a great a deal, especially in a seller’s market. For the past two years home prices have steadily increased and have priced out some buyers. If you’ve been looking for a great deal, right now is the time to find it!