HUD Articles

Winter is usually the cheapest time of year to purchase a home historically. Sellers are often motivated, which automatically translates into an advantage to you. Most people suspend their listings from around Thanksgiving to the New Year because they assume buyers are scarce. Sellers who do list at that time usually want to sell as soon as possible. They may even be more willing to throw in extra perks such as appliances and window treatments. Potentially lower purchase prices aren’t the only savings. Real estate agents want to make sales during the slow periods and are more open to negotiating closing costs and commissions.

However, while prices are cheaper during the winter, inventory is much more limited. It may not be a good time to buy a house unless you’re willing to keep an open mind and work with a limited selection.

In general, there are fewer open houses in the winter months. Winter may also mean that you may have to navigate house hunting and open houses in less-than-ideal weather, depending on which part of the country you live in. Even if snowstorms aren’t common in your area, you may not see a property in full bloom. You may pass on a home that’s beautiful in spring. It's also hard to gauge the amount of natural light when the days are short.

Your inspector may have difficulty determining the condition of the roof if it’s covered in snow, and they might not be able to test the AC unit because of the cold weather.  Despite winter home-searching challenges, the closing process tends to be speedier. Lenders process fewer applications during this season. Real estate professionals are usually more accessible, and inspectors have less backlog.

Source: RocketMortgage.com