Published January 8, 2016

Why January Is a Great Time to Buy A Home | Fridays with Fred

Written by Fred Sed

Why January Is a Great Time to Buy A Home | Fridays with Fred header image.

Every year many buyers ask us if January is a great time to buy a home in Southern California and the answer is yes.

In this post we will break down several reasons why you should consider buying a home in January so you don’t miss out on the perfect opportunity to buy a home for a great price.

Reason #1 – Mortgage Interest Rates Are Still Low

Did you know that mortgage interest rates are still very low when compared to historical data?

Even though the Fed has been talking about raising interest rates for months their decision to raise rates is not likely to affect the mortgage market anytime soon so if you’re serious about getting a low rate it’s best to get pre-approved for a mortgage loan within the next 30 to 90 days and then buy a home.

Reason 2 – Motivated Sellers

After the holidays one of the most common things that we see is motivated sellers who had their homes listed during the holidays and saw a drop off interest in their properties.

Motivated sellers are a great thing for buyers because this means you could buy a great home in Southern California or elsewhere in the United States for a great price.

Reason 3 – Less Competition

Sadly, some buyers may put their plans to buy homes in Southern California on hold until the spring due to poor weather or the misconception that the Real Estate market slows down in SoCal during the winter.

Thankfully fewer buyers on the market means that you stand a greater chance of having your offer accepted by a seller rather than having to deal with multiple offers from other buyers.

Reason 4 – More Inventory Will Be Added To the Market Soon

Last of all, but most important, you will want to be searching for a home in January because more home inventory will be added to the Real Estate market by many sellers who are serious about selling their homes at the first of the year.