Is it a good time to buy?!
Yes and No.
Yes.
Less Competition. The winter can be a calmer time to purchase your next home. The nervous crowds at spring open houses have been replaced with calmer, more leisurely lookers. The tactic of forcing offers a couple days after the listing goes live is mostly gone. I have sold and bought two of my houses in January so transactions are happening!
Stabilizing Prices. Although some are still trying it, winter is generally not the time to push prices. Watch houses you are interested in to study the price over time. You may notice some price reductions; I sure have.
No.
Fewer Choices. Yes, there are fewer houses on offer. But you will still see houses come on the market as people still have to move for various life circumstances (think jobs and divorce). Check out the chart. The number of listings was highest in May and lowest in December. However, we see an uptick in new listings as soon as the new year comes around.
Snow! When looking at houses in January and February, you may only get to see the part sticking out from the snow! Get a good home inspector who is willing to dig down to the foundation. The upside of buying in winter is the flowering surprises you may find come spring.
