December is historically a good month for selling real estate (and is often similar to the sales rate of May). Sales are in fact up this month compared to the slower months of October and November.
Many sellers keep their house off the market during the Holidays, which keeps the listing inventory lower. This season, many banks are postponing the foreclosure process until January, which results in reduced competition with this type of property for the typical seller. Sellers who have their house on the market right now are finding themselves in a much better position than they've experienced in months.
There are many reasons why buyers purchase homes during the Holidays: 1) New job starts in January, 2) Tax reasons, 3) More available time for shopping, 4) Homes show well when decorated and 5) School semester breaks.
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