Here is a Terrific article from Home Care Buzz about “6 Reasons to Buy a Home in Winter”
Buying a home in winter could be the perfect time. You have less buyers in the market to compete with, sellers are usually trying to get their home off the market so more willing to lower price, and inventory is lower, which makes sellers more motivated to negotiate.
Home Prices are Lower
Seasonal home prices are lowest in winter, particularly in January and February, meaning home-buyer affordability is at its highest. You also have fewer buyers in the market, making supply exceed demand. This usually results in prices being lower than during the warm or peak seasons.
During the winter months there are fewer real estate transactions than there are in spring and summer. The fewer number of transactions means mortgage lenders have fewer loans to process, title and escrow companies have less closings to process, and home inspectors have fewer inspections. All of these are motivating factors that can lead to quicker transactions and closings for everyone involved.
Home Sellers are Motivated
A home on the market during winter months usually means there’s a motived seller. Having to move because of a job change or life change could make the seller more motived due to a “must sell” situation. Real estate agents also know that impulse can equate to sellers who are more willing to negotiate, whether it is on selling price, closing costs, closing date, or even terms of the sale, like what household items are to be included in the sale.
In most markets, winter usually means a lower inventory with less houses on the market. It also means there will be fewer buyers to compete with during the winter months.If there are fewer buyers in the market, the seller may be willing to negotiate a better price. And with fewer buyers competing for homes, the chances of multiple offers on a single property decrease. All this means that buyers have the upper hand over sellers in the negotiations. The laws of supply and demand are always at work in real estate sales.
Real Estate Agents Can Focus on You
During the slower winter month, your real estate agent has more time to give you their undivided attention – they will be working harder for you. These low-activity months for sales encourages agents to try just that little bit harder to negotiate a sale. With extra time on their hands, they are better able to help you find the right home, negotiate the best deal, and close the transaction quickly.
You Get to Assess a Home’s Condition in Wintertime
Winter can be the toughest season for a home. The cold, moisture, and wind will test the home’s ability to insulate and protect its residents. When you view the home, you’ll get to assess first-hand whether the insulation is no good, for example. Significant problems are more likely to appear as well, such as if it’s drafty, if the HVAC system works well, and so on.
Buying a home in winter affords you the opportunity to discover things that otherwise might not be noticeable in warmer weather. Such information can be extremely useful in your decision making and your negotiations about the final price of the home.
All of these reasons factor into why winter can be a more opportune time for home buyers than sellers. As a buyer, you can benefit favorably, in ways you’re less likely to experience during peak selling seasons.