End of the Year Home Buying
Purchasing a home in the latter months of the year, or the fourth quarter, has its pros and cons. Obviously the avaialbility of homes in November and December is not as abundant as earlier in the year. Buyers may be forced to deal with a limited selection and may feel pressured into making a decision.
Despite the fact that there are negatives to purchasing a home later in the year, there are also positives. As MSNBC explains, “There will be less competition for any house you do find and fall in love with, and less competition should translate into a bigger discount”.
In addition, sellers realize that demand for houses is limited and as a result may be willing to work with and accomodate the buyer. Careful attention must be paid in the timing of buying a house and the pros and cons of each season must be assessed. As we get closer to the end of the year, the availability of houses on the market decreases but the ability to negotiate and be flexible increases.