Selling • February 3, 2025

The Secret To Selling? Using an Agent To Get Your House Noticed

by Shawn Keane

The Secret To Selling? Using an Agent To Get Your House Noticed

In a recent survey, the National Association of Realtors (NAR) asked sellers what they want most from a real estate agent. The number one answer was to help market their house.

It makes sense. The way your agent markets your house can be the difference between whether or not it stands out and gets attention from buyers. That’s why it’s so important to work with an expert local agent that knows what they’re doing.

According to that same report from NAR, here are some of the most common methods real estate agents use to market homes, and how you benefit when your agent uses them effectively (see graph below):

Listing on the MLS – Real estate agents have access to the Multiple Listing Service (MLS) database. And that’s great for you because having your house on the MLS helps it get more visibility from other agents and buyers. And the more people who see it, the more likely it is to sell.
Using a Yard Sign – A yard sign may seem simple, but it’s one of the best ways to catch the attention of people driving or walking by. And when it does, they’ll help spread the word to friends and family who are looking to buy that there’s a house for sale in the area. It also puts your agent’s contact information on display, making it easy for interested buyers to get in touch.
Having an Open House – An open house is a great way to create a sense of competition and urgency among buyers – and that can lead to stronger offers. And since you’ll only need to leave once for many buyers to visit, it makes the process easier for you, too. Plus, an open house helps your agent get real-time feedback about what buyers love and what they’re not as sold on.
Showcasing on Your Agent’s Website – Having your house on your agent’s website presents it in a professional way to buyers. And odds are, people visiting your agent’s website are serious and ready to make a move, so this is a smart way to get in front of motivated buyers.
Social Networking – Posting your house on social helps get your house in front of buyers who may not have seen it with traditional marketing. It also makes it easy for people to share your listing with friends and loved ones.
Providing Virtual Tours – For buyers who are relocating from out of town, virtual tours allow them to check out your house anytime from wherever they are. This helps reach more potential buyers who may not be able to come to see your house in person.
Using Video – Video is an excellent way for your agent to show off some of the top features of your house like your kitchen, large closets, outdoor entertainment areas, and other key details that could attract buyers.
Sending Emails – Sending out information about your house to your agent’s expansive database is another way they’ll get it in front of even more people. Great agents may even send emails teasing that your house is coming to the market as a way to boost interest and excitement before it officially has an open house.

Here’s what it comes down to. Most good agents will write a description of your house for the listing and pair it with high-quality photos. But a great agent will do so much more than that.

They’ll not only lean on their expertise, they’ll put in the time and effort to make sure your house makes an impression on buyers, and ultimately, sells.

Bottom Line

As a seller, working with a creative local real estate agent is a smart way to ensure your house grabs the attention of the right buyers. If you’re ready to sell and want to talk about strategies we can use to get your house sold, let’s chat.

Uncategorized • January 21, 2025

When Is the Perfect Time To Move?

by Shawn Keane

When Is the Perfect Time To Move?

It’s easy to get caught up in the idea of waiting for the perfect moment to make your move – especially in today’s market. Maybe you’re holding out and hoping mortgage rates will drop, or that home prices will fall. But here’s what you need to realize: trying to time the market rarely works. And here’s why.

There is no perfect market.

No matter when you buy, there’s always some benefit and some sort of trade-off – and that’s not a bad thing. That’s just the reality of it. If you’re not sure you buy into that, think back to the last 5 years in housing.

Just a few years ago, mortgage rates hit a historic low. To take advantage of that, a ton of buyers rushed to buy a home and lock in those lower rates. The side effect? With such a big increase in how many buyers were purchasing, the homes on the market were snapped up fast. And since that resulted in so few homes left for sale, bidding wars became the norm and home prices went through the roof. Those buyers got a great rate, but they had other things to contend with.

Now, with higher rates and higher prices, it’s more expensive to buy. You can’t argue that. But at the same time, the number of homes for sale is at the highest point in several years. That means you have more options to choose from and you’ll be less likely to find yourself in a pull-out-all-the-stops bidding war. Again, there are benefits and trade-offs in any market.

So, if you have a reason to move and can afford to do so, you’ve got to take advantage of the trends that work in your favor and lean on a pro to help you navigate the rest. As Bankrate says:

“The complexities of the current conditions mean that, now more than ever, it’s smart to lean on the guidance of an experienced local real estate agent. If you want to enter the housing market in 2025, whether as a buyer or a seller, let a pro lead the way for you.”

While achieving your goals may feel like an uphill battle in today’s complex market, it is doable. But you’ll need the help of a trusted real estate agent and a lender.

Your agent will help you explore creative solutions – like looking into different housing types (like smaller condos), considering homes that need a little elbow grease, or casting a wider net for your search area. And your lender will walk you through different loan options and down payment assistance programs, so you know what you need to do to make the numbers work for you. As Yahoo Finance says:

“Buying a house at a time when both mortgage rates and home prices are favorable is a challenge. You probably shouldn’t try to time the housing market . . . Buy when it makes sense for you personally.”

Bottom Line

There’s no perfect time to move – every market has its pros and cons. The key is knowing how to make the most of the factors working in your favor. If you need to move and can afford to do it, let’s connect so you’ll have the guidance and tools to make it possible.

Markets • January 18, 2025

Mid Jan 2024 Market Update

by Shawn Keane

For Buyers and Sellers, the good and the bad:

Buyer’s season has begun and new listings for January are the strongest Greater Phoenix has seen since 2020. New listings waned in November and December, so this rebound is a refreshing start for buyers in 2025 as supply is rising and sellers continue to be open to incentives and negotiations.

Hovering around 7.25%, mortgage rates continue to limit the general buyer pool. Currently, just over 5,600 listings are under contract in the MLS, but normally we expect to see at least 7,000-8,000 at this time of year. On the other hand, supply is around 21,000, the highest entry point for January since 2016-2017, fostering an environment favorable towards qualified buyers.

These conditions suggest home price projections should remain flat, either at or slightly lower than the rate of inflation annually. However, December price measures were significantly higher than the rate of inflation with a +4.7% growth in the median sales price and +6.7% for price per square foot. How can this be? Well, blame it on the luxury market.

Mortgage rates suppress buyers on the low end of the price scale, but don’t affect those on the high end. As crypto and stock investments spiked after the 2024 election, luxury sales over $1M over surged +37% over last December compared to just +11% for homes under $1M. This caused December’s data set to be more top heavy in luxury and skewed price appreciation measures high.

When December sales over $1M are eliminated, the annual appreciation rate per square foot falls from 6.7% to just 2.5%, in line with the rate of inflation. This is expected in a market that bounced between a buyer’s market and balance for most of the year. While mortgage rates are not ideal, they are temporary. Prices are stable, incentives abound, and sellers are negotiable. There’s no harm in getting qualified and taking a look.

For Sellers:

January is starting off pretty frigid overall, but not for everyone. When taking a broad look at Greater Phoenix, the gap between supply and demand can seem insurmountable. However, specific target price ranges and areas are lighting up the map with heated activity.

For example, the West Valley lights up in the first-time home-buyer price ranges between $250K-$400K, specifically Surprise, Waddell, Avondale, Tolleson, and Southwest Phoenix as high builder incentives combat affordability issues. Also lighting up with frenzy activity in this range is Mesa (85204), North Gilbert, and Chandler (85226).

The Southeast Valley heats up in the $400K-$500K range, as does Tolleson and North Glendale.

Luxury condo sales over $1.5M are insanely popular in Scottsdale 85251, 85255 and Paradise Valley. However, the condo market in general is under the most stress with many areas seeing zero contract activity and a 67% increase in competing supply under $400K. Condos between $300K-$500K and $600K-$800K rose in value from January-April last year, but those gains disappeared from April-December*. They are now starting 2025 dead even with January 2024 at 0% appreciation.

Homeowners insurance is going to be a major topic this year, especially for the condo market as many HOAs can no longer shoulder the extra costs without raising dues. More landlords facing increased insurance costs, HOA fees, and lower rents on apartment-style condos are experiencing lower returns and looking for an exit strategy.

As the housing market enters its high season, things will look up for sellers from now through May. How much contract activity lights up depends mostly on mortgage rates, however. Until then, sellers must continue to offer high incentives to buy down rates, keep their properties in top condition to compete, and resist the urge to press the market on price.

Source Cromford Report

Mortgage Interest Rate Projections for this Year:

Conservative Estimates: Some analysts expect rates to settle around 5% to 6% by if inflation remains manageable and economic conditions stabilize.
Pessimistic Projections: If inflation or economic uncertainty remains a concern, rates could stay closer to 6% to 7% for much of 2025.

Summary of Projections for 2025:

Lawrence Yun (NAR): ~5.5% to 6%
Selma Hepp (CoreLogic): ~5.5% (mid-year)
Greg McBride (Bankrate): ~5% to 5.5%
Danielle Hale (Realtor.com): ~5.5% to 6%

These experts generally agree that mortgage rates will likely ease over the course of 2025, but how much they drop depends heavily on the trajectory of inflation, the Federal Reserve’s policy actions, and overall economic conditions.

I’m in the camp that rates will be in the range of 5.75% to 6.25%. 5.5% is the best-case scenario, no lower.

I am excited to continue serving you and your real estate needs.

Buying • January 18, 2025

One Homebuying Step You Don’t Want To Skip: Pre-Approval

by Shawn Keane

One Homebuying Step You Don’t Want To Skip: Pre-Approval

There’s one essential step in the homebuying process you may not know a whole lot about and that’s pre-approval. Here’s a rundown of what it is and why it’s so important right now.

What Is Pre-Approval?

Pre-approval is like getting a green light from a lender. It lets you know how much they’re willing to let you borrow for a home. To determine that number, a lender looks at your financial history. According to Realtor.com, these are some of the documents a lender may ask you for during this process:

W-2s from the last two years
Tax returns from the last two years
Pay stubs from the last 30 days
Bank statements from the last 60 days
Investment account statements (if applicable)
Two years of history of where you’ve lived

The result? You’ll get a pre-approval letter showing what you can borrow. Keep in mind, that any changes in your finances can affect your pre-approval status. So, after you receive your letter, avoid switching jobs, applying for new credit cards or other loans, or taking out large sums of money from your savings.

How It Helps You Determine Your Borrowing Power

This year, home prices are expected to rise in most places and mortgage rates are still showing some volatility. So, since affordability is still tight, it’s a good idea to talk to a lender about your home loan options and how today’s changing mortgage rates will impact your future monthly payment.

The pre-approval process is the perfect time for that. Because it determines the maximum amount you can borrow, pre-approval also helps you figure out your budget. You should use this information to tailor your home search to what you’re actually comfortable with as far as a monthly mortgage payment. That way, you don’t fall in love with a house that’s out of your comfort zone.

How It Helps You Stand Out

Once you find a home you want to put an offer on, pre-approval has another big perk. It not only makes your offer stronger, it shows sellers you’ve already undergone a credit and financial check.

When a seller sees you as a serious buyer, they may be more attracted to your offer because it seems more likely to go through. As Greg McBride, Chief Financial Analyst at Bankrate, says:

“Preapproval carries more weight because it means lenders have actually done more than a cursory review of your credit and your finances, but have instead reviewed your pay stubs, tax returns and bank statements. A preapproval means you’ve cleared the hurdles necessary to be approved for a mortgage up to a certain dollar amount.”

Bottom Line

If you’re planning on buying a home, getting pre-approved for a mortgage should be one of the first things on your to-do list. Not only will it give you a better understanding of your borrowing power, it can put you in the best position possible to make a strong offer when you find a home you love. Connect with a trusted lender to learn more.

My Monthly Market Summary • January 6, 2025

Market Summary for the Beginning of 2025

by Shawn Keane

Market Summary for the Beginning of 2025

Here are the basics – the ARMLS numbers for January 1, 2025 compared with January 1, 2024 for all areas & types:

Active Listings: 20,007 versus 14,593 last year – up 37% – but down 7.3% from 21,593 last month
Under Contract Listings: 5,496 versus 5,127 last year – up 7.2% – but down 14% from 6,393 last month
Monthly Sales: 5,581 versus 4,923 last year – up 13.4% – and up 8.4% from 5,147 last month
Monthly Average Sales Price per Sq. Ft.: $303.62 versus $284.40 last year – up 6.8% – and up 4.7% from $290.02 last month
Monthly Median Sales Price: $450,000 versus $429,900 last year – up 4.7% – but unchanged from $450,000 last month

There is quite a lot of positive news in these numbers. Obviously, supply is down from the November peak, but we would expect that as part of the usual seasonal pattern. What we don’t know is how fast supply will grow again in January and we will be closely watching that over the next several weeks. The decline was late starting in November but it really accelerated in December and ended in a big bang with a large number of listings expiring at the end of December. For sellers it is much better to have 7.3% fewer active listings to compete with. But if those expiring listings come straight back in January, the good news will have been an illusion.

Closed sales counts are improving nicely. December’s count was up more than 13% from a year ago, although we have to admit this was an easy target to beat. It is encouraging that the annual sales count has risen to almost 72,000. much healthier than the 69,627 we saw at the end of September. However, it is still well below the long term average of 85,000 per year.

Under contract counts remain subdued but at least we managed a 7% increase from the beginning of 2024.

A combination of reduced supply and a slight recovery in demand means the Cromford® Market Index has returned to the balanced zone between 90 and 110. We are no longer in a buyer’s market across all areas, though several outlying locations remain very favorable to buyers.

Overall, demand is slowly starting to rebuild despite mortgage rates remaining stubbornly high. Our concern is that we do not know how much new supply will arrive during the next three months. If we get a light load, the market will continue to move towards balance. If we get a large number of new listings, we could slip back into a buyer’s market. The next four weeks are likely to be critical.

Pricing was unusually strong in December, particularly when we look at the $/SF numbers. This measure is distorted by the relatively hot market in upscale luxury homes. These are selling in healthy numbers and for higher prices. A frothy stock market, combined with elevated cryptocurrency values means that those with significant capital investments are feeling much better off. The very wealthy have done extremely well over the past couple of years and as usual this has increased demand in the extreme high end markets, especially the Northeast Valley.

Most home builders’ stocks tell quite an interesting story in 2024 having gained hugely in value by the end of September only to give most or all of those gains back by the end of December once it became clear that mortgage rates were not coming down in a hurry. The inventory of completed but unsold new homes has recently been increasing for the USA as a whole and new home supply is more plentiful than it was this time last year. This may lead to more flexibility from home builders in sales negotiations during the first half of 2025, especially concerning homes that are ready to move in.

With 30-year fixed mortgage rates over 7%, we do not anticipate strong growth in demand, but the reversal of the earlier declining demand trend is a good sign that we have seen the worst. Everything now depends on how much additional supply will arrive over the next few months. Source Cromford Report

For the latest information, please visit my website. You’ll find a daily blog, monthly reports, and seller and buyer guides. Don’t forget to sign up for Neighborhood News, the best way to stay connected with what’s happening in the real estate market in your area. You can view homes that are currently for sale and those that have recently sold. Discover whether home sales in your neighborhood are trending upwards or downwards, and check current selling prices for homes nearby. You can also search real-time listings in any market area using the “SEARCH FOR HOMES” feature.

Looking ahead, I am excited to continue serving you and your real estate needs. Let’s make this year even more prosperous and fulfilling together. May your 2025 be filled with joy, success, and new beginnings in your home and life.

Cheers to a fantastic New Year!

SHAWN KEANE

REALTOR, ARIZONA
(602) 989-3209 Cell

shawn.keane@azmoves.com

Visit My Website | Home Valuation | Read My Reviews

Selling • January 2, 2025

Home Staging FAQ: What You Need To Know

by Shawn Keane

You may have heard that staging your home properly can make a big difference when you sell your house, but what exactly is home staging, and is it really worth your time and effort?

Here are a few quick FAQs that can help you decide how much you should prioritize staging as you prep for your move.

What Is Home Staging?

Staging is the process of arranging and decorating your house to highlight its best features and make it as appealing as possible to potential buyers. It can range from simple touch-ups to more extensive setups, depending on your needs and budget.

How Does It Help Me Sell My House?

Studies show good staging does have an impact on your sale. Staging your house well can help you attract more attention from buyers, which ultimately helps it sell faster and maybe for a higher price than an unstaged home (see visual):

What Are My Staging Options?

Now that you see the value, let’s think through your options. The most common is leaning on your agent for their expert advice. They know what buyers like because they’re in showings all the time and hear that feedback first-hand. That expertise is crucial to getting your house market-ready. Basic staging with an agent usually means they give you insight into how you should:

Declutter and depersonalize by removing photos and personal items
Arrange your furniture to improve the room’s flow and make it feel bigger
Add plants, move art, or re-arrange other accessories

Full-service staging is another option if your house needs more hands-on attention. This is when you hire a staging professional or staging company to come in, make recommendations, and do the work for you. Going this route is more involved and that makes it more costly too. That’s because it can include renting furniture and decor to more fully transform a space.

How Do I Know Which One To Pick?

Not sure which one you need? You don’t have to figure that out on your own. Your real estate agent will help determine what level of staging will make the most impact on your house and market.

They can help you decide if professional staging is worth the investment, or if you can knock it out with their advice alone. And just so you know, here are some of the factors an agent will look at to figure that out:

Market Conditions: If the market is slower, going all in on staging can make your home look move-in ready and attractive to buyers who may otherwise be hesitant. If your local market is very active and homes are selling fast, you may be able to get by with doing less.
Your Home’s Condition: If your home is vacant or has a unique layout, using a professional stager who can bring in the right furniture and accessories may help buyers truly visualize its full potential.
Your Budget: Talk to your agent to get an idea of staging costs in your area, as it can be the difference between your house selling and sitting. But if your budget is tight or your home only needs minor updates, your real estate agent can help you think outside of the box by suggesting simple DIY staging tips to help your home look its best.

Bottom Line

Staging your house properly can make it much more attractive to buyers, but it’s not a one-size-fits-all solution, and every home shines differently. Let’s connect to talk through what your home really needs to stand out and sell for top dollar.

Buying • Selling • January 2, 2025

New Year, New Home: How To Make It Happen in 2025

by Shawn Keane

This is the time when a lot of people take a moment to reflect and set their goals for this year. And as you picture what you want your 2025 to look like, one thing that may pop into your mind is the vision of you in a new home. But how do you get there? And where do you start?

Here’s some advice that can help you get the ball rolling.

Focus on Your Why

To lay the foundation, you need to focus on your why. While the dollars and cents are important, so is the driving force behind your desire to move. Maybe you need more space for a growing family, want to sell so you can downsize, or are finally ready to buy your first home. Whatever your reason, it’s important to keep it front and center.

Your why is what helps you stay focused. Share your motivation with your agent and they’ll use their expertise to help support that goal, no matter what the market looks like. With a great agent by your side, you’ll have someone to guide you, problem-solve, and keep you moving forward until you can check that goal off your to-do list.

Get Clear on What You Need

Then it’s time to figure out what your next home needs to have. How many bedrooms do you need? If you don’t have a designated home office, is that a deal-breaker? What about a big fenced-in backyard? Knowing your must-haves and nice-to-haves makes the search a lot smoother.

Since affordability is still tight, it’s important to have a clear idea of your essential items upfront. Maybe you can flex a bit on location, if it’s got everything else you’re looking for. Go over those essential items with your agent and they’ll help you focus on the homes that check the boxes that matter most while staying within your price range.

Know Your Numbers

Before you jump in, take a look at your finances. How much have you saved? What monthly payment feels comfortable? Getting clear on your budget early will help you know what’s possible.

The best way to do this is by partnering with trusted real estate professionals, like a local agent and a lender. They’ll help you:

Plan for your down payment and look into down payment assistance programs

Understand the equity you have in your current home and how you can use it to fuel your next move if you’re selling

Get pre-approved for a mortgage so you know what you can borrow

Lean on a Pro To Guide You

It can be hard to know where to start, but you don’t have to do it alone. A real estate agent knows what you need to do to get ready to buy or sell, how to navigate the process, and can answer your questions every step of the way. As Bankrate puts it:

“. . . now more than ever, it’s smart to lean on the guidance of an experienced local real estate agent. If you want to enter the housing market in 2025, whether as a buyer or a seller, let a pro lead the way for you.”

Remember, buying or selling is a big milestone and a great goal for this year. With the right expert on your team, you’ll feel confident and ready to take on the market.

Bottom Line

If buying or selling a home is part of your goals for 2025, now’s the time to get started. Focus on your why, know what you need, and connect with trusted pros to make it happen. Let’s team up and make this the year you accomplish your real estate resolutions.

Selling • December 30, 2024

Why More Sellers Are Hiring a Real Estate Agent

by Shawn Keane

Why More Sellers Are Hiring a Real Estate Agent

Some Highlights

More homeowners are realizing they need an agent’s help in this complex market – and that’s why a record-low number of people are selling without a pro by their side.
Without an agent’s help, tackling pricing, staging and repairs, paperwork, negotiation, and more can be a real headache.
Selling without a pro isn’t worth the hassle. Let’s connect to see if we’d work well together.

Selling • December 30, 2024

How Eco-Friendly Features Can Boost Your Home’s Value

by Shawn Keane

Selling your house? Or just looking to increase the value and appeal of your home for when you do? Here’s something you should know – homebuyers are increasingly looking for homes with environmentally friendly features.

What Energy Efficient Features Do Buyers Want?

According to recent data from the National Association of Realtors (NAR), when buyers think about eco-friendly features, they’re looking for (see visual below):

Heating and cooling costs: 82% of buyers consider heating and cooling costs to be one of the most important factors when looking for a home. And efficient heating and cooling systems with programmable thermostats can significantly lower monthly energy bills.
Windows and doors with proper insulation: These help maintain comfortable indoor temperatures without overworking the HVAC system, which turns into saving on energy bills.
Energy-efficient lighting and appliances: These can save money on utility bills and reduce a home’s overall energy use too.
Commuting costs and environmentally friendly community features: Living in a community designed with energy-saving amenities and shorter commutes can reduce expenses and environmental impact.
Landscaping for energy conservation: Strategically placed trees and shrubs can lower cooling costs in the summer.
Solar panels: Solar panels can also provide long-term savings and are an attractive feature for eco-conscious buyers.

The common theme? Environmentally friendly features are popular with buyers because they help them save money and make homes more comfortable to live in. But making some of these updates before you sell your house doesn’t just benefit buyers – it’s worthwhile for you too.

How Green Features Benefit You

If your appliances or systems are aging, upgrading them now means you can enjoy the savings and comfort while you’re still living in the home.

The U.S. Department of Energy has introduced Home Energy Rebates, which can provide households with up to $14,000 in savings on energy-efficient upgrades. This includes insulation, duct sealing, heat pumps, and more. These rebates make it more affordable than ever to improve your home’s efficiency.

Then, when you decide to sell, you’ll reap the rewards again. Energy-efficient homes stand out in a competitive market and appeal to the growing group of environmentally conscious buyers.

Studies also show that homes with energy-efficient upgrades, like those with high-efficiency HVAC systems or modern insulation, are more desirable for buyers- and they generally net a higher price. Research from Freddie Mac found that homes with high energy-efficiency ratings sold for 2.7% more on average than homes without these upgrades.

Work with a Real Estate Agent to Maximize Value

Not sure which upgrades to prioritize? That’s where a local real estate agent comes in. They can help you identify the eco-friendly features that buyers in your area value most. Whether it’s adding Energy Star appliances or improving insulation, they’ll guide you in making the best choices for your house and your budget.

Bottom Line

Making environmentally friendly upgrades can pay off in more ways than one. You can enjoy saving on energy bills and improved comfort now. Additionally, you’ll have the satisfaction of knowing you’re contributing to a more sustainable future while adding value to your home. Ready to learn more about how you can make your house stand out? Let’s connect.

Buying • December 20, 2024

The Biggest Perks of Buying a Home This Winter

by Shawn Keane

Waiting for perfect market conditions often means missing out. Because what you may not realize is, if you’re ready and able to buy, this time of year could actually give you an edge. Here’s why. As the weather cools down, the housing market can too – and that works in your favor.

You Likely Won’t Feel as Rushed

Homes tend to take a little longer to sell during this time of year. Data from the National Association of Realtors (NAR) shows the average time a house sits on the market jumps up during the winter months (see the green bars in the graph below):

This is partly because fewer buyers are active at this time of year – and that decrease in buyer competition means the houses that are on the market aren’t going to be snatched up as quickly. So, if you decide to buy a home in the next couple of months, you’ll likely have more time to consider your options and negotiate a deal without feeling as pressured.

Sellers May Be More Willing To Negotiate

And since homes generally take longer to sell during the winter, sellers are often more motivated to close a deal. That can work in your favor, too. According to NAR:

“Less competition can lead to better deals. While homes are not selling as fast as during the summer, sellers may be more willing to negotiate.”

Whether it’s compromising on price, covering closing costs or repairs, or including extras like appliances, you have more room to ask for what you need.

Homes Are Less Expensive in the Winter

With less competition from other buyers and sellers who are more willing to negotiate, you may see slightly lower prices too. In fact, according to NAR, homes are typically about 5% less expensive now compared to when prices normally peak in the summer.

That might not seem like a huge difference, but on a $400,000 home, it could mean savings of $20,000 on the purchase price.

You can see this expected seasonal shift in home prices taking place this year. Take a look at the graph below showing the median sales price of existing homes (homes that were previously owned) over the past 12 months. You’ll notice in the green bars that prices were lower in the winter months last year, and it seems like that’s going to happen again this year. That gives you the chance to make your budget go further:

Bottom Line

Buying a home during the winter means less competition, motivated sellers, and potentially lower prices, too. Let’s work together to find the right one at the right price for you.