3 Benefits of Selling your home during the Holiday Season
You might have a number of big tasks on your personal December checklist — things like getting all of the holiday gifts you need, finalizing your travel plans, and figuring out what you’ll do to ring in the new year. Selling your home may not be at the top of your list. But if you’re looking to sell in the near term, it actually pays to consider listing your home this month. Here’s why.
1. The Real Estate Inventory
Any time there’s a lack of supply relative to consumer demand, prices tend to rise. That’s the current situation as far as the U.S. housing market goes however that number has grown since.
Real estate inventory is still down on a national level, so right now, if you list your home, you’re likely to be in a position to command at your preferred price but keep in mind for adjustments. If you wait a few months, inventory could pick up more than normal. And that could mean having to adjust even lower for your home.
2. A Recession hasn’t hit
Many financial experts have cautioned that the U.S. economy could take a dive in 2023. If that happens, it could lead to an uptick in unemployment levels. And that could push buyers out of the market — buyers who are otherwise able and willing to purchase a home today.
That’s a situation worth getting ahead of, as it plays into the whole concept of supply and demand. You want to sell your home when demand is high. If a recession hits, buyer demand could drop significantly, even if mortgage rates come down. Not only could buying be off the table for those who wind up unemployed, but even financially healthy buyers might choose to delay their plans due to not wanting to take on that commitment at a time when the economy isn’t doing well.
3. Most sellers don’t want to list during the holidays
You may have your reasons for not wanting to put your home up for sale right now, such as wanting to focus on the holidays instead. But guess what? You’re surely not the only would-be seller who feels that way. And so if you’re willing to inconvenience yourself and even potentially mess with some of your holiday plans, you might benefit financially in a very big way.
There are plenty of buyers who are willing to drop what they’re doing in order to move forward with a home purchase in December. If you list your home this month, on top of generally low inventory, you might really benefit from reduced competition due to others not wanting to sell during the holidays.
Selling now could pay off
The sale of your home is a big deal, and getting the timing right could make a huge difference, financially speaking. While it may not be the most convenient or desirable time to sell a home, listing yours this December could benefit you in multiple ways. And so it may be worthwhile to tweak your plans in order to make that happen.
Leave a Reply