In Minnesota there is a tendency to “Wrap things up before the snow flies”. We’ve had a nice long Summer, but winter is looming just ahead. Perhaps you or someone you know spent time looking at homes this year, but before you could even see the home there were already offers, perhaps several offers submitted. After awhile you decided to wait and see what next year will bring. If you could avoid competing against so many other buyers and perhaps pay less would you still be interested in buying a home right now?
October through December is my favorite time to help buyers find their Dream Home! Although exact figures are not available, I estimate is that less than half as many buyers are looking at homes today compared to last May or June. The number of homes available are down from the peak of the year only by about 10%. Let’s face it, if a home is still active now the seller must have a pretty good reason to be selling; perhaps a relocation, a divorce or death in the family. They may have overpriced the home this Summer and now are lowering the price to sell.
So why are you waiting? Did you know that historically prices almost always rise the most in the first 6 months of a new year. That’s because thousands of new buyers start their search about February. Unfortunately most homeowners thinking of selling aren’t ready to list until months later, so the demand will push prices higher. Interest rates may also rise, we just don’t know about the future. We do know that rates are still low now and homes are available.
This is a good time to call a trusted Realtor and lender for a consultation.
I would love to buy you a cup of coffee and chat!