Does weather affect home sales? According to the Movoto agents we spoke with, weather has a significant influence on buyers’ motivation to purchase homes in particular seasons.
In climates with changing seasons, most real estate agents find that homebuyers typically purchase in the spring and summer months, rather than in the colder (or in some climates, rainier) months. The general consensus is that buyers want to avoid the undesirable weather, but Portland realtor Thomas DeMonbrun has found that this really only applies to the natives in his city. “Oddly, I’ve had more interest in buying homes in the winter months,” DeMonbrun answered when asked about which seasons were most successful for real estate agents. “Mainly because people are visiting family during the holidays and want to kill two birds with one stone.”
Portland experiences a wet season rather than bitter cold, but in places like Chicago, Illinois, the icy roads and winter chill is enough to deter most potential homebuyers from braving the weather until spring. Serious, motivated buyers are still likely to purchase in the winter months though. Chicago realtor Beverly Lee says that most of these buyers are forced to relocate on a fixed timeframe for a new job or career and can’t afford to be as picky.
There is also one thing that all the realtors we spoke with agreed upon: though inventory is decreased because of the anticipated seasonal slump, buyers may have a better chance at catching real estate deals during the winter months. “The market is saturated with buyers in the warmer, busier real estate months,” Agnes Lacomba shared, who has been an agent in the Chicago area for eight years. “In a market like that, bargain homes are snatched up as soon as they pop up. What you like, everyone else likes.” She also feels that if it were up to her, she would urge buyers to buy when everyone else has put their home search on hold for the holidays or cold weather. “Pickings are definitely slimmer, but you won’t have to compete with fifteen other buyers for a lower-priced home.”
So, as the holidays approach, you may want to consider trading in a little relaxation time for a great price on a home!