December Market Update: Rates Drop & Holiday Deals for Buyers

🎄 Holiday Real Estate Market Update

As we move into the heart of the holiday season, the real estate market is showing its usual seasonal slowdown—with a twist. Inventory has dipped a bit as many homeowners wait until after the holidays to list, but prices are still on the rise. In fact, the median sales price increased 1.7% from last month.

Even better news for buyers and sellers alike: mortgage rates have finally dipped below 6%, leading to a surge in mortgage applications. And last month, 60% of all home sales included seller concessions, giving buyers more negotiating power than we’ve seen in a while.

🎁 What It Means for Sellers

Lower interest rates tend to bring more buyers into the market—just in time for the New Year. If you’ve been thinking about upsizing or downsizing, the improving affordability gives many homeowners the motivation to “unwrap” their next move.
With less competition during the holiday season, well-priced homes can still shine brightly and attract serious buyers.

✨ What It Means for Buyers

This December may be the perfect moment to make your move. Seller concessions are becoming the norm, which means you may be able to buy down your interest rate—often with the seller footing the bill.

Plus, it’s fiscal year-end for many home builders, and they’re offering generous incentives to close out the year strong. Think rate buydowns, price reductions, and upgrades—almost like a holiday sale on new construction.

🏡 What It Means for Our Local Market

Despite the seasonal slowdown, our local market remains strong and steady. Prices are holding firm, demand is healthy, and opportunities exist on both sides of the transaction. Whether you’re planning to buy or sell, the holidays may offer more advantages than you’d expect.