You may have heard that winter is the best time to buy a house, and it turns out that's no old-wives'-tale. It might be more convenient to shop for houses and move in when temperatures are warmer, but home buying in winter has financial benefits. It's not always possible to pick the time of year you'll go house-hunting but, if you can control that issue, you'll be glad you waited for winter to buy a house.
Prices Decrease in Winter
Experts recommend home buying in winter because they've seen seasonal trends year after year. Forbes notes that although housing prices increased in the five-year period between 2010 and 2015, each winter house prices predictably and consistently took a dip. Every year, prices peak in the summer then start on a gradual decline and bottom out in January of the following year. Around March and April is the time when they start going up again. MarketWatch points out that home prices don't plummet in the fall but instead decrease gradually about half a percent at a time, eventually descending to the lowest prices you'll see for the season. It's a demand versus supply issue. More people would rather buy and move during warmer weather, so fewer buyers mean less demand and prices drop. If you hold off for home buying in winter, the savings would be almost 8.5 percent on the average.
Why Not Buy in Meridian?
If you're considering home buying a new home, have you thought about Meridian, Idaho? Located in the southwestern part of the state, winter weather is pretty mild partially due to the low elevation of around 2700 ft. That's not to say it doesn't get cold, it does. It's Idaho, after all, and area winter precipitation is typically an inch to just a few inches of snow at a time and it generally melts off after a day or two. But sometimes it can stay for a few weeks too! But typically it means that piles of drifting snow aren’t likely to hinder a winter move too much.
If you don't know anything about Meridian, you might be surprised to learn that it is one of those Idaho towns that people from larger cities flock to because of the terrific job it does balancing a friendly small-town feel with bigger city amenities, has excellent schools, low crime rates and a very family friendly atmosphere. Meridian was established in 1893 and has always been an active hub for agricultural-based business such as farming and dairies but now has become a thriving suburb with all kinds of Medical and Tech jobs available in Meridian itself and in Boise, just 10 miles to the east.
You won't lack for things to do in Meridian, starting with Dairy Days. The dairy business is such an integral part of the community that 4 days are set aside every year to celebrate the industry that has made Meridian prosperous. Each June, the carnival sets up, dairy farmers bring their cattle into town for judging, and the residents enjoy several days of parades, rodeos, sprint car races, a pancake breakfast, theater performances, and much, much more.
There are other things to do in Meridian year-round, however. There are galleries, breweries, a family Fun Zone, races at the Meridian Speedway, and a water park. Plus, the Village at Meridian is a premier shopping complex offering stores, restaurants, a movie theater, concerts, and wintertime ice-skating, among other things.
If you're thinking about home buying in winter and want to know more about Meridian, give Jeff Stewart at Stewart Realty a call or Search for Homes for Sale in Meridian, Idaho here! He'll be happy to give you a personal tour of the Meridian area or anywhere else in Southwestern Idaho, including some great homes that fit your style and budget.
The team at Stewart Realty knows homes and they know Southwest Idaho real estate. To find out more about real estate in the Boise Region give Jeff Stewart at Stewart Realty a call to set up your personal real estate search, a personal tour of the area and find some great homes that fit your needs and budget.
Jeff Stewart, Broker/Owner 208-602-1993 or email@example.com