Should you buy or sell your home in winter?
By Sabra Morris | Nov. 1, 2018
Historically, December is far from the ideal month to buy or sell a home. In most parts of the country, it’s cold. Kids are halfway through the school year. Our minds are on decking the halls and our wallets are being open and closed in pursuit of the perfect holiday gift — not the perfect house.
But according to a new analysis by CNBC Real Estate, “Some unique dynamics may make this December one of the better times to both buy and sell a home.” Here, paraphrased, are some of the key reasons:
Mortgage rates are on the rise.
Rates on a 30-year fixed mortgage are a full percentage point higher than they were at this point last year and are expected to rise in 2019. Some buyers may want to take advantage of the current rate before it goes up yet again.
Prices are usually lower in the winter months.
Fewer people entering the market (and, therefore, less competition) means lower price points in some areas.
A new crop of buyers could be emerging.
Buyers who have been priced out of the market in recent months (see above) may be able and willing to buy a home during a season where there is less competition overall.
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