The holidays are officially here, and so is the slowest time of the year for real estate.
The Holiday Slowdown: From Thanksgiving to the end of the year, it is the slowest time of the year for housing when both the inventory and demand drop to annual lows.
Starbucks does everyone a big favor. Right after Halloween, they reveal their latest holiday cups. This is a glaring reminder for buyers, sellers, and everybody involved in real estate that the Holiday Market is upon us. Costco, CVS, Albertsons, and just about every other retailer quickly follows suit, taking advantage of the busiest retail season of the year. Everyone shakes their head in disbelief, feeling as if Thanksgiving has been skipped. It foreshadows that there isn’t much runway left to cash in on 2019 housing.
In the blink of an eye, the housing market has quickly changed and revealed a much different real estate environment. There are fewer and fewer homes for sale as the number of homeowners opting to enter the fray drops to its lowest level of the year. Many sellers who have not found success, mainly due to price, opt to throw in the towel and pull their homes off the market. At the same time, with all the holiday distractions, buyer demand drops to its lowest point of the year as well.