If you’re thinking about selling your home this winter, there are several reasons to consider. The cold weather filters out the unreliable and filtering buyers. Also, home inventory is at its lowest during the winter. The winter is a great time to sell your home if it’s a cozy one with a gas fireplace and cozy furnishings. Read on to learn about some of the other reasons to sell your home in the winter.
Motivated buyers shop in the winter
Many sellers conceal flaws in their properties with plants and greenery, but if you buy a home during the winter, you’ll see the property without this “makeup.” You’ll catch issues that might not be noticeable in the summer, such as peeling paint and gutter problems. You might also be able to get a better price by buying now. Here are some tips for buying a home during the winter:
Although many buyers prefer to shop for a home during the spring and summer months, serious buyers are still on the lookout. They’re checking the listings right before bed, and they’re even checking them while waiting for their kids’ hockey game to end. Changing seasons will not deter the serious home buyer from shopping, but you’ll find fewer buyers in the market during the winter, which means that you’ll have a better chance of getting your desired home and won’t have to worry about bidding wars.
Cold weather filters out those who aren’t serious
The cold weather also keeps buyers from attending open houses. In addition, most people would rather stay inside than brave the cold, so you will have fewer people to contend with. Those who do come to open houses are serious buyers who are motivated by a need to move. This low inventory also encourages serious buyers to make offers. In other words, the winter market will help you get your home sold!
Home inventory is at its lowest during the winter
The housing market is experiencing its lowest inventory in two decades. With the Millennial generation set to hit the homeownership milestone between 2019 and 2023, homebuilders are struggling to keep up with demand. In addition, the global supply chain is clogged with orders and delays, making it difficult for builders to meet contractual requirements. These factors have all combined to make the housing market unfavorable for buyers. In December 2020, the months’ supply of existing homes on the market was a record low of 1.9 months. This is the lowest level since 1999.
The trend continues through the spring and summer months. Although spring and summer months typically experience higher housing inventory levels, the number of homes for sale has been essentially flat since early March. However, after the pandemic swept the nation, business restrictions and social distancing guidelines were put in place. Moreover, this winter will likely not be an exception to the trend. To stay ahead of the game, buyers should broaden their vision. Starter homes will likely be more affordable than those in higher price ranges.
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