If buying a home is on your holiday wish list, Santa might actually deliver this year (with some effort on your end, of course). Why? Because the crazy bidding wars and sky-high home prices that buyers battled through the spring and summer are, at long last, slowing down.
“Through the end of the calendar year, buyers will get a break,” says Danielle Hale, chief economist of Realtor.com®. “I mean this in the sense that buyers are likely to have more time to make decisions, less competition, and a bit more negotiating power with sellers.”
“There will be certainly far less intense multiple-offer competition this winter compared to spring and summer,” adds Lawrence Yun, chief economist of the National Association of Realtors®.
Granted, the holiday season is traditionally a slow time for sellers when they’re more eager to play ball with any buyers who are willing to brave the cold and walk through their door. But there’s a lot more leaning in buyers’ favor these days than just that. Here’s some news that should give you hope that, if you’re willing to forgo a few holiday cocktails to tour a few homes, your hard work may finally pay off.