How do the holidays affect the housing market?
If you are in the market to buy a house, you may notice that as it becomes colder, your choices begin to become more scarce. This is not a coincidence! The holidays have a large effect on the housing market that many individuals may not realize.
It is simply too cold!
One of the primary reasons that you see the housing market slow down is because of the temperature. Although the temperature outside doesn’t affect your ability to buy/sell a house, it does affect your ability to move. It is not uncommon for this change in weather to scare away buyers/sellers due to the fear of moving in freezing temperatures. Especially when the move is not emergent, why force yourself to move in those conditions? Therefore buyers will simply pause their search, and sellers will often times take down their listing altogether until temperatures rise early next year.
House Savings and Holiday Savings become a bit scarce.
It is no secret that winter is the most expensive time of year. Whether you are paying for Christmas lights on your house or getting that perfect gift for your Secret Santa at work, you are going to be a little tight on cash. Obviously, if you are beginning to get a little low, the last thing you want to do is buy a house! Therefore, many buyers will pause their search until the holidays are over, and they can replenish their savings a bit.