Tips to Beat the Housing Market Blues This Winter

Published on 1/14/2022

Tips to Beat the Housing Market Blues This Winter

This winter as we move into 2022, it’s still looking mostly like a seller’s market. But if you’re hoping to buy, don’t let this information give you the housing blues! Instead let it spur you on to buy sooner rather than later. Here are some tips.

1. Buy before the rush

The housing market tends to slow overall during the colder months. There’s less of a rush to move before schools start up like in the Fall. It can also just be more daunting and less comfortable to move in the winter, so many people put it off. This is a benefit to you if you’re hoping to buy soon. Less buyers on the market means less competition and more chances your offer will be accepted! 

2. Don’t wait until rates rise

Unfortunately, mortgage rates are slowly but steadily on the rise. According to this forecast from Freddie Mac, mortgage interest rates are expected to rise to 3.5% by the end of 2022. However, this isn’t drastic news. It’s just more incentive for you to buy earlier this year rather than waiting until later. If mortgage rates are projected to rise, buying now will help you lock in the lower rates. 

3. Play your cards wisely

Another way to sweeten your offer this winter to hopefully get the home of your dreams is to play your cards well. If for instance, you have a bit of wiggle room on when you actually need to move by, this may come in handy with an offer. Say that seller also needs time to find a new home, your flexibility in the closing date will be a huge plus. What about covering closing costs as an extra perk? Or upping the down payment a bit? Whatever you have to work with, use those things to your advantage. 

Bottom line is if you are wanting to buy this year, do it sooner rather than later. Lock in lower interest rates, beat the competition and settle in sooner to your new home.