As the year begins to wind down in October, one question begins to find its way into our daily conversations with clients: “So who buys homes in December anyway?” Home sellers ask it to help them decide whether to list their homes during the holidays and home buyers ask it to help them decide whether to put their home search on hold and start again the new year.
It’s a valid question, and here’s why: “Timing is everything.”
Sellers generally want justification that December isn’t going to be a waste of their Days on Market (DOM), while buyers tend to seek confirmation that they’re not the only ones in the market – after all, no one wants to be the sole owner of a stock no one else is buying.
So, to show you what kind of people are buying homes in December, I thought I’d describe the profiles of several of the buyers we’re working with right now who are scheduled to close escrow in December. It may surprise you to learn they’re not all investors and snow birds (local term, meaning: out-of-state residents who come to live in Arizona between November and April).
Married Couple with Children: They’re relocating here from out of state and buying new construction in Chandler.
Married Couple with Children: They’re moving here from Flagstaff and buying a resale home in Scottsdale.
Married Couple with Children: They’re relocating here from out of state and buying a bank-owned home in Mesa.
Single Man: He’s moving from another home in the area and buying a resale home in Ahwatukee (Phoenix).
Single Woman: She’s currently renting, and buying her first home, a bank-owned home, in Phoenix.
Single Woman: She’s also currently renting, and buying her first home, a bank-owned home, in Phoenix.
Married Couple with Children: They’re currently renting, and buying their first home, a short sale, in Scottsdale.
Single Man: He currently owns a home out of state, and is buying a second home to visit in Gold Canyon.
Single Man: He’s currently living with his parents, and buying his first home, a bank-owned home, in Scottsdale.
Single Woman: She’s moving from another home here in the Phoenix Metro Area and buying a bank-owned home in Scottsdale.
The list could go on, although I think I’ve made the point that buyers are still buying houses this December. The monthly sales won’t be as high as they were back in April, but then, they rarely are. There may be fewer active home buyers right now, but they’re some of the most qualified, most motivated buyers a seller could hope for.
Tell us, what has been your experience with real estate during the winter months?