As with most industries, Thanksgiving through December is a slow period in the real estate market. There are a lot of great distractions during the holiday season like shopping, Christmas Parties, and of course, the holidays themselves. This presents a nice opportunity for buyers that start or stay engaged in their search during this period. This overall reduction inactivity leads to a reduction in the overall demand for real estate, which can lead to great opportunities.
For example, builders push really hard to get inventory moved before the end of the year. Builders and their sales associates have annual goals and they want to meet them. They know that the activity is low during this period and they are going to work hard (i.e. lower prices or additional upgrades) to get your business.
With existing construction, homeowners are seeing fewer and fewer showings during this period. As those days on market continue to rack up, sellers become more and more anxious. This anxiety can lead to better deals as home sellers either lower prices or open up to lower offers from home buyers. As we advise our sellers, it is imperative to not get nervous during this time of year. The holiday slowdown is a natural cycle of the market. However, sometimes outside factors, like a new job, can motivate sellers to sell sooner rather than later.
Real Estate is a people business at the end of the day. Every transaction, every buyer, and, every seller is unique. For this reason, a change in the weather or the introduction of Christmas lights does not automatically lead to a better deal for your particular home. However, it certainly is not a reason to put your home search on hold or put off getting it started.