Warmer Climates Keep Home Buyers Shopping Through Winter
While December is typically the slowest month of the year for new home buyers, numerous news outlets have reported a scene more typical of the local shopping mall at this time of year.
It’s December, with Christmas right around the corner, but in much of the U.S. you wouldn’t know it if you’ve been spending lots of time outdoors. The unseasonably balmy weather, especially in the East, has people out and about rather than curled up at home. And that’s not only a boon for last-minute gift shopping…it’s also great for home buyers to shop for real estate.
“We’ve seen more activity this December,” Mark Olejniczak, a realtor in Green Bay, WI, told CNBC News.
Even real estate agents in Minneapolis, MN often cited as the coldest U.S. city have basked in brisk sales.
The only downside for home buyers? More traffic means more clean-up for home sellers.
The chief economist at realtor.com, Jonathan Smoke, said in November, “If you are ready, consider getting in the market now instead of early spring. You will have more choices and less competition, and you can lock in today’s rates rather than risk rates being 25 to 50 basis points higher.”