Our winters in New Orleans may not be nearly as bad as other parts of the country weatherwise, but from November through Mardi Gras, the market still slows down and people are less likely to want to buy a home.
That being said, here are four reasons buying in winter can actually be a wise decision:
1. Less competition. With fewer buyers looking, you’ll face fewer multiple-offer situations. The months of May, June, July, and August make up 40% of existing home sales, while January and February combined account for just 6%. Use that to your advantage!
2. Motivated sellers. People who list in winter do so out of necessity, and therefore, they are more willing to negotiate deals to get their homes sold.
3. Hiring movers is easier. They’re usually not as busy during this time of year as they are in spring and summer. May is actually the worst month to try hiring movers; not only are you fighting all of the busy buyers and sellers, but you’re also fighting the college students who also need to hire movers.
4. Homes close faster. Lenders, too, have more availability in winter, allowing them to devote more time and energy to your closing process.
So if you are waiting for the spring but are otherwise ready to buy, I encourage you to act now. It’s a great time to buy, and there are plenty of beautiful homes listed in our area. My team and I would love to help you get a good deal on the right home; call or send me an email.
