Just like there are hot times of the year to buy cars, there are peak buying seasons for homes as well. The best day of the year to buy a house is Christmas. That’s not surprising considering that very few people are looking for houses that day.

Generally, winter is a better time of year for buyers looking for a good deal. During the winter and specifically January, there is a scarcity of buyers. This is especially true where temperatures dip dramatically and fewer people want to venture out into the cold. In fact, you can consider January as the near opposite of spring when buyers flood the market and home prices shoot up.

So, it’s not surprising then that January in particular is a good house hunting month for bargain hunters. Here are a few things to consider if you want to buy a home in January.

1.     January median home prices are at their lowest national levels at the beginning of the year. Homesellers are also ready to sell in January because, on average, their homes have already been on the market longer than at other times of the year.

2.     As a home buyer, you should not rush to enter the market at any particular time just because you think it’s a good time to buy. The perfect time of year to buy a home is when you are ready.

3.     There may indeed be less home buyers looking for properties in January and so sellers may have fewer options. But there is also less supply of properties in January. So, while you may get a better price for a home in January, you may be able to find a more suitable home (or at least have a wider selection) in the summer when there are more homes on the market.

4.     While it is true that January is the best time for home buyers nationally, it may not be true a specific region.

5.     A professional and experienced real estate agent can help you buy your home at the right price no matter when you want to enter the market. The right timing can save you thousands of dollars. But buying your dream home is not just about purchasing at a particular time of year. There are many factors involved and your realtor will be able to walk you through the pros and cons.

If you’re ready to become a homeowner this January, give Metrowest a shout and let’s discuss your options!