Ontario’s home hunters say they will continue their search during the holiday season, new research shows

The holiday hustle will not interfere with real estate shopping this month according to new research from the Ontario Real Estate Association (OREA), which found that two in three (64%) Ontarians in the market to buy a home plan to continue their search over the holidays. In fact, a majority feel that shopping for a home during the holiday season could mean less competition among buyers (64%) and possibly a better deal on the price of a home (55%).

“The holiday season is definitely a busy time, but determined home hunters should keep an open mind about when they might expect to buy a home,” says Costa Poulopoulos, president of the Ontario Real Estate Association. “While the supply of homes tends to decline during the winter months, there are always home owners who see benefits to listing at this time of year. Serious home buyers can use this time to get ahead of other buyers who might be too busy with holiday commitments.”

The research, conducted by Ipsos Reid and commissioned by OREA for its Ontario Home Ownership Index, a semi-annual province-wide research study, also found that just over half (55%) of those in the market to buy a home believe sellers are more willing to negotiate on price during the holidays.

“This notion comes from the assumption that anyone listing their home during the holiday season is eager to make a sale, and will therefore be willing to drop their price,” says Poulopoulos. “Sometimes, that can be the case; however, it is not always. Regardless of the time of year, buyers and sellers must be prepared to negotiate a satisfactory price for both parties.” conti...

Source: OREA (Dec 2014)

Pritpal Sodhi

Pritpal Sodhi

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CENTURY 21 President Realty Inc., Brokerage*
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