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The year-end holiday season is a good time for gift-exchanging, entertaining and general merriment. But what about buying a house? Should you try to do that in November or December, too?
If you're not picky about the home you intend to buy, the answer might be yes.
Sellers tend to avoid the end of the year due to the short days, wintry weather and conventional wisdom that says buyers are otherwise occupied, says Tim Deihl, associate broker at Gibson Sotheby's International Realty in Boston. But those who do choose to sell at year-end are often under pressure and highly motivated to cut a deal.
"A seller who's looking to move a piece of real estate during the holidays is a seller who needs to sell, because nobody in their right mind would pick that as the most convenient time to list their property," Deihl says.
And that's why the year-end might be a smart time to buy: Determined house-hunters can take advantage of sellers' urgency.