Winter is coming. And with winter comes the usual lull in market activity (both on the buyer and seller side). For a buyer, there are two things to keep in mind. One is that for these next couple of months inventory will probably be low, so your options may be limited. But the flip side to this is that in a slow market you have a better chance of negotiating a favorable contract for the purchase of whatever is out there. Once the market picks back up in late winter/spring, your chances of getting stuck in a bidding war increase, and you may find yourself ceding to less favorable terms in order to compete with other buyers.
History will tell us that the residential real estate slows during the winter/holiday season, and we are already seeing signs of history repeating itself this year. Inventory has not picked up since Thanksgiving, and the average weekly transaction volume is down. But as I mentioned before, it is worth while for buyers to continue to shop around, as you may be able to use this period of relative inactivity to your advantage at the negotiating table.
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