It is no secret that housing trends go up and down, but this is especially true during the winter season. While one may expect homes or apartments to be consistently expensive year-round, that may not be the case during the winter season. In this article, we will discuss the housing trends that seem to be the most popular especially in the winter season. This will allow you to revisit your decision as to when you should buy or rent your next home. While doing so in the winter may not be preferred, it may be the best option for you if these trends work in your favor.
Not enough inventory:
Because many people don’t want to move during the colder months, there may not be as much inventory available for those looking to rent an apartment or buy a home. Many people may not be inclined to want to let their apartment go. That said, many property management companies may not be able to give you the apartment or space that you would like. This is definitely something to be wary of if you are looking to find a home between the months of November and February.
Prices are slightly lower:
Because inventory may be lower and many people may be less inclined to move anywhere during colder months, prices may be slightly cheaper. This could definitely work to your benefit if you are someone who is looking to save a little bit of money during the moving process. It may not be the most glamorous process moving during colder months, but it could be a game changer. That said, it is definitely something to take into consideration.
May take longer to sell:
Be aware that if you are looking to sell during winter that it may take a bit longer to sell your home. Depending on where you live, some places might have winter that is more brutal and impactful than others. If this is the case, please allow yourself some time to find buyers that are interested in your property as it might them a while. It is more appealing to buyers to find something during the warmer months, typically in the spring, summer, and or some cases, fall. Buying a home in winter for many may be a bit of a pain.
Don’t have to worry about outbidding:
Due to the lack of competition, there most likely will not be a lot of buyers outbidding you to get the best deal on your home. This is something that could definitely work in your favor. Just keep in mind that the inventory may not be as much as seen in the warmer months. That said, you should definitely capitalize on any inventory that you feel could be a great home or place to live. Outbidding definitely takes out any frustration that you may have.
Less competition for renting or owning:
A major upside of looking into renting or owning a home during the winter months is there may be less competition. Let us face it. No one wants to move when it is raining or it may be cold. Moving is a major feat and isn’t easy. If you combine that with bad weather, it could be a recipe for disaster, and leasing companies are definitely aware of this. That said, they are definitely aware that there may be less competition or less clientele that are interested in moving in during these times, which will definitely work in your favor. You could also use this as a means of negotiation with the leasing company.
Hiring movers might be easier:
Due to there being less competition, movers may be less inclined to hike up the prices with their moving quotes. And if they do, you could use this as a major negotiation tactic especially if there isn’t much business coming through. That said, make sure to do a thorough background check for your moving company. You want to make sure that they are well vetted as they will be carrying very expensive furniture and very personal belongings. Also, make sure that there is an insurance policy in the plan. This will come in handy, in the case that some of your belongings are damaged, lost, or stolen en route.
All in all, housing trends during the winter season are definitely different during the warmer months. There are definitely pros and cons to moving during the winter. There may be less inventory out there. However, the inventory out there could also be cheaper than it could be in the winter. These are one of the many upsides and downsides to housing trends during the winter season. We hope that you use the insight provided in this article to make a just decision on whether or not the housing trends fall in line with what you are looking for.
