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Why the Holiday Season is the Best Time to Buy a Home

Buying a home is an exciting undertaking, but can also come with its fair share of stress, especially during the holiday season. Many potential home buyers feel nervous about buying in a competitive market, putting down offers that may not go through and losing a deposit, or not finding the home they want in time for the holidays. Weber Mortgage is here to share our top ways to mitigate seasonal buying stress and take the homebuying process from potentially rocky seas to smooth sailing. The one we’re about to share...may surprise you!

Most people think that Spring and Summer are the best time to buy a house, but recent data shows that December and January might actually be the prime time for home buying. In an analysis of home sales between 2013 and 2019, real estate information company ATTOM Data Solutions found that the amount buyers spend over the value of a home is an average of 2% in November, 1.5% in December, 2.5% in January, and 3.4% in February.

According to the data, one of the top two days to buy a house falls right in the middle of the holiday season: December 4th. The second best day comes just a few weeks into the New Year, on January 26th. We understand that buying or selling during the holiday season may mean you delay putting up decorations, and a slight change in a potential holiday hosting timeline, but we found that buyers who purchase at these times are likely to pay market value, rather than paying a premium above the value, which is so common in a seller’s market.

These dates may differ depending on where you live. To illustrate, Ohio and Tennessee had the largest discounts off of full market value (-7.4% and -6.2%) in January. Delaware’s (-6.3%) and Michigan’s (-7.2%) big discounts didn’t arrive until February.

Conversely, buying on June 17th, for example, shows an average of paying 9.2% over market value. It’s clear that buying in the Winter may be the secret to getting the best deal! 

Let’s Recap! 

Why is the holiday season the best time to buy a home?

  • There is less competition between interested buyers. You are likely to spot gorgeous homes for sale that nobody else has noticed because they’re caught up in the holiday hustle and bustle.
  • Fewer interested buyers mean a seller, not inundated with offers, is likely to list at a lower price and be willing to make a deal.
  • People don’t want to move during the holidays. It’s a busy time, days are shorter, and many people just don’t feel like they have the energy to take on another task.

Your awareness of these influences on other home buyers can put you ahead of the competition, leading you to a fantastic deal on the house of your dreams and the life-changing gift of a new home for the holidays. Enjoy the gift of a new house this holiday season and let Weber Mortgage help.