You don’t have to be a housing market expert to know that springtime is peak homebuying season. Every year, when the sun comes out, so do millions of buyers. In fact, home sales activity typically rises 34% between the months of February and March, according to the National Association of Realtors.

The winter months usually have the opposite effect. That’s when most would-be buyers are focused on the holidays, spending time with family, and frankly, staying warm. As the temperature drops, driving around to open houses starts to sound less enjoyable and more like a great way to catch a cold.

Yet in many ways, winter can be the very best time to shop for a home. Let’s look at some reasons why.

Less Competition

The first advantage of shopping for a home during winter seems a bit obvious, but we’ll say it anyway: there are fewer buyers. That means less competition for homes, less pressure at open houses, and fewer multiple-offer situations that tend to push prices higher.

A quieter market can also impact the quality of your homebuying experience. Agents, home inspectors, appraisers and movers are less busy during winter, so there are usually fewer delays in scheduling their services. Lenders also see a slowdown in mortgage applications during the winter months, which can mean faster loan approvals and shorter processing times.

When all the pieces needed to buy a home move a little faster, you may find the path to closing smoother and more predictable.

Motivated Sellers

The fact that fewer people buy homes in winter leads us to the second major advantage: you’re more likely to get a deal.

While most home sellers list their homes during the spring and summer, some misjudge the market and set their prices too high. Soon summer turns to fall, and fall turns to winter, and there’s still no buyer. Meanwhile, the seller is still making mortgage payments—and now their energy bills are rising, too.

As the pressure builds, the seller becomes more likely to accept a clean purchase offer quickly, even if it is less than the asking price, so they can move forward with their own plans.

There’s data backing this up. In the period between December and February, single-family homes sell for about 16% less than they do in June, according to NAR.

This sort of leverage can lead to other good tidings. To get a deal under contract, a highly motivated seller may also be more willing to offer a buyer credits for home repairs, or help with the buyer’s closing costs, or waive contingencies.

The Benefits Don’t Stop There

Winter homebuying is ideal in other unexpected ways. For instance, winter buyers get a more revealing look at how a home actually performs against the elements.

If the windows and doors let in drafts, or if the heating system doesn’t reach every room, you’ll know immediately. You’ll also see how the roof, gutters and exterior hold up during rain, frost or even snow, and any moisture issues, leaks and condensation patterns become easier to spot.

If they time things right, winter buyers also gain an advantage at tax time. By closing on a new home before December 30, you can qualify for mortgage related deductions for that tax year. It’s not the main reason to buy, of course, but it’s a nice bonus.

Ready to Grab Your Coat?

When you combine lower competition, motivated sellers, and lenders and housing professionals with more time on their hands, you have a situation where buyers have more breathing room, more negotiating power, and often a cleaner and faster closing.

If winter seems the right time to put your homebuying plans into action, the loan experts at Right By You Mortgage can help. Find a local mortgage loan officer or drop a note to inquiries@rightbyyoumortgage.com.