Most people think that the real estate market slows down this time of year and it does to a certain extent. However as I tell potential buyer clients, now is the right time of year for people looking for a home to buy.

I know you have heard me say this before, but interest rates are at an all time low and they are probably not going to stay this low much longer. That is not to say that they are going to go through the roof tomorrow or even in the coming weeks. It is the way rates typically trend, especially after an election.

The average fixed rate on a 30 year loan as of December 4th was 2.981%. Of course that rate will vary from lender to lender and it will depend on your credit history. The average fixed FHA rate was 3.281%

Rates are still historically low and while inventory in most communities in Massachusetts and Rhode Island isn’t exactly high, it does not matter as much this time of year because there are not as many people in the market for a home right now.

With less competition out there, now might be the time to get a deal on a property. The type of deal you get of course also depends on just how motivated the seller is to sell. Chances are you may still have to pay asking if you buy this time of year or even go over slightly but you won’t have to get into a bidding war.

November to February is the perfect time of the year to buy a home. The inventory is decent and the competition isn’t the same as it is in the spring.

Potential buyers tell me all the time that they do not like the idea of going out and looking at homes in the cold and snow. They also do not want to have to move this time of year. I get that and my advice is always the same. Do not allow those factors to prohibit you from buying a home if you are ready.

If the time is right for you now financially, then enter the market now. You could end up getting the home you want and saving some money in the long run.