Should I list my house during the holidays?
If we were asking this question pre-pandemic, the answer to whether or not to sell your home during the holidays is to wait if you can. December, in normal years, is a slower real estate month, so it would make sense to wait until demand goes up in May or June. However, the pandemic has shifted the housing market significantly, making December a great time to list your house. Here are three reasons you should list your house during the holidays:
Housing inventory is extremely low
Due to the pandemic, fewer people are listing their homes for sale. Because there is such little competition from a listing side, sellers have a lot of power when it comes to selling their homes. Houses are spending significantly less time on the market and are often going for more than the asking price in certain markets.
This is true during the holidays, as well. Even if the demand slows from peak season, it still far outweighs the supply of homes being listed.
Buyer Demand is extremely high
While the pandemic caused slow house listings, it also pushed several individuals and families to a point where they are looking for a home. Since so much time is spent at home now, many renters are trying to buy, and younger families are considering purchasing a home earlier than planned.
This has driven the number of buyers looking for homes to record highs. When coupled with low mortgage rates, there are a lot more people trying to buy homes than there are homes for sale. Because the competition to buy a home is so fierce, the holiday real estate market is still hot.
Good looking homes sell in this market
One advantage sellers have when listing during the holidays is that the homes are often looking their best. With holiday décor up, the curb appeal and sales photos showcase the house in a unique way that drives interest.
Ultimately, good-looking homes sell in this market, regardless of the season.
If you are looking for a new home, remember to get pre-qualified with First Bank before you shop. That will tell you exactly how much home can afford.
Questions? Speak to one of our mortgage experts. We’re happy to answer any questions you have.
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