5 Reasons to Buy + Sell During the Holidays | DOBI
 

5 Reasons to Buy + Sell During the Holidays

It Truly is the Best Time of Year!

Cozy Winter House

The holiday season is typically slower for real estate. But in our current market with a super-low supply of homes coupled with great demand, it is a great time for sellers as well as buyers. Usually, there are fewer buyers than in the summer, meaning that homes tend to take longer to sell during the holidays. So sellers often wait to list until spring, but this year and last year are ones like no other.

If you’re wondering whether or not you should wait until the holidays are over to buy or sell, we’ve outlined a few reasons why this holiday season could be the perfect time to list your home and to also purchase one: 

Low Inventory of Homes

Usually, there are fewer homes for sale during the winter months, but in our current market, inventory is already at historic lows. So homeowners who want or need to sell during the 2021 holiday season probably won’t have too much competition, which puts them in the driver’s seat.

More Serious Buyers

Typically we see fewer buyers during the holidays, but it’s still very much a seller’s market right now. And of the buyers who are looking during the holiday season, many are serious about making an offer, particularly those who’ve been outbid over the competitive summer months.  

Less Competition 

DOBI agent and top producer, Vic Simjanoski, shares “Right now, there is less competition of people wanting to buy and sell. Interest rates also remain at record lows, making it a great time for buyers to still take advantage of the market.” Vic also shares that during 2021, there was so much demand, and very little inventory, so finding a house for many buyers seemed next to impossible. “You may have lost out on a few homes, and now you’re thinking you’ll just wait until after the holidays are over to start looking again. However, a lot of buyers decide to wait and therefore get out of the market temporarily, but right now you’ll likely get a better deal and have a lower chance of overpaying.” It is still very much a seller’s market, making it an equally great time to list your home. 

Home Appeal

This time of year, homes are often cozier inside and many homes and neighborhoods look especially pretty, with holiday lights, wreaths, and yard displays. The holidays can exude an inviting, homey feel to a listing and the surrounding neighborhood. Be warned, the ‘less-is-more’ concept applies here — this isn’t the time for excessive seasonal decorations. Pro tip: After the holidays, the weather can appear dreary, so if you are going to list, the time is now! 

Interest Rates Remain Low

Historically low interest rates are one factor that’s increased buyer demand the past two years for homes. Low-interest rates equal lower monthly mortgage payments, opening the market to more buyers. Earlier this year, the Mortgage Bankers Association (MBA) reported that “when interest rates barely rose, from 2.96% to 2.98%, mortgage applications fell 5.1%.” This shows that even the slightest fluctuation in interest rates can make a significant difference in buyer behavior.

The MBA also reported that for 2022, mortgage rates could rise to 4%, which would be an increase of about a full percentage point. As far as buyer demand, that’s still expected to be strong, through 2022.

If you’re on the fence about listing during this holiday season or waiting for spring 2022, there’s really no reason not to sell or buy right now, however, we are predicting it should remain a seller’s market for at least another year. 

To list with a DOBI agent and get your home sold even quicker, head here