3 Reasons To Buy a Home Before Spring
webadmin • January 30, 2025
3 Reasons To Buy a Home Before Spring
Let’s be real—buying a home right now might feel like a challenge with today’s mortgage rates. You might be thinking,
"Wouldn’t it be smarter to wait until spring when more homes hit the market and rates might be lower?"
But here’s the thing: No one can predict exactly where mortgage rates will go next. And waiting? That could mean more competition, higher prices, and extra stress.
What if buying now—before the spring rush—actually gives you an advantage? Here are three reasons why that might just be the case.
According to the National Association of Realtors (NAR), homes sit on the market longer in winter compared to spring and summer (see graph below):
But here’s the thing: No one can predict exactly where mortgage rates will go next. And waiting? That could mean more competition, higher prices, and extra stress.
What if buying now—before the spring rush—actually gives you an advantage? Here are three reasons why that might just be the case.
1. Less Competition from Other Buyers
The real estate market slows down in winter. Fewer buyers are out house hunting, which means less competition when you find a home you love. That translates to a more relaxed buying experience—no need to rush or get caught up in bidding wars.According to the National Association of Realtors (NAR), homes sit on the market longer in winter compared to spring and summer (see graph below):
Fewer buyers in the market means you have more time to weigh your options. It also puts you in a stronger position when it comes to negotiations. As the Alabama Association of Realtors explains:
“ A significant benefit of buying a home in winter is the reduced competition. Because of the perceived benefits of spring, many buyers delay the start of their house hunt. As a result, you will find fewer people competing for the same properties during winter. Less demand can translate into more negotiating power as sellers may be more willing to entertain offers or agree to concessions to get a deal closed quickly.”
2. More Negotiating Power
With homes sitting on the market longer, sellers may be more open to negotiation. That could mean scoring a better deal—whether it’s a lower price, seller-paid closing costs, or repairs thrown in as part of the deal. As Chen Zhao, an Economist at Redfin, puts it :“. . . buying during the off season means less competition from other buyers. That means potentially negotiating a better deal. ”
When demand is lower, sellers are more motivated to work with serious buyers. That could give you the upper hand to negotiate terms that fit your needs.
3. Lock in Today’s Prices Before They Rise
Historically, home prices tend to be at their lowest point in the winter months. In fact, data from NAR shows that last year, home prices were at their lowest in January, February, and March—right before the spring buying frenzy kicked in (see graph below):
And this trend isn’t new. Bright MLS found that between 2010 and 2024, home prices in January and February were, on average, 15% lower than the peak pricing months (typically June). That means buying in winter could save you from paying the premium prices that come with spring’s high demand.
On top of that, home values generally rise over time. If you’re ready to buy, you’re not just taking advantage of potentially lower seasonal prices—you’re also locking in today’s price before future appreciation kicks in.
Bottom Line
Spring may be the popular time to buy, but jumping in before the market heats up could give you a serious advantage—less competition, more negotiating power, and a better price.If you’re ready to explore your options, let’s connect.
Here at Luminate Home Loans, we’re always looking for ways to offer more value to our clients and partners. That’s why we’re thrilled to announce that we’re now a wholly owned subsidiary of Luminate Bank®—and soon, we’ll officially transition under the Luminate Bank® name.
For years, homebuyers have been hoping for a return to the ultra-low mortgage rates seen during the pandemic. But as we move through 2025, it’s becoming increasingly clear that today’s rates—hovering between 6% and 8%—aren’t going anywhere.
Luminate Bank® Welcomes Josh Eifert as Chief Financial Officer, Honoring Legacy of Dave Turk [Minneapolis, Minn.] – [2/4/2025] – Luminate Bank® is proud to announce the appointment of Josh Eifert as its new Chief Financial Officer, succeeding Dave Turk, who has played a pivotal role in shaping the company's strong financial foundation. Josh brings a wealth of experience and strategic vision to Luminate Bank, with 26 years in the banking industry. Most recently, Josh served as CFO at Tradition Capital Bank in Edina, Minnesota, where he led the financial strategy during its remarkable growth from $300 million to more than $2.5 billion in total assets. Before his tenure as CFO, Josh contributed to Tradition Capital Bank in other key financial roles. He began his career with Norwest and Wells Fargo Banks, gaining extensive expertise in financial and operational capacities. Luminate Bank's leadership transition reflects the company's thoughtful succession planning, ensuring its financial strategies remain robust and forward focused. Under the leadership of Dave Turk, Luminate Bank has built an exceptional financial infrastructure, delivering consistent results and creating a foundation that positions the company for continued success. Luminate Bank's CEO, Marc Campbell, shared his confidence in the appointment: "Josh not only brings exceptional financial acumen and strategic insight to Luminate Bank, but he also embodies the principles that define our organization: integrity, innovation, and a steadfast commitment to excellence," Luminate Bank's CEO, Marc Campbell, shared with confidence. "His leadership will ensure our financial strategies succeed and inspire confidence across all who depend on us." "I am honored to join Luminate Bank at such an exciting time. The company's remarkable history of financial excellence and its forward-thinking approach align perfectly with my values and vision," stated Josh Eifert. "I look forward to collaborating with the talented leadership team to build on this strong foundation and drive continued success for our customers, employees, and stakeholders." Josh graduated from the University of Minnesota with a degree in finance and completed the Graduate School of Banking at Colorado. CEO Marc Campbell expressed gratitude for retiring CFO Dave Turk's contributions, saying, "Dave has been instrumental in positioning Luminate as a financial leader. His dedication, insight, and stewardship will always be a part of our company's legacy." Josh Eifert will officially assume his role on February 18, 2025. About Luminate Bank® At Luminate Bank, We Open Doors—empowering individuals and families to achieve their financial dreams through personalized service and innovative digital solutions. As a nationwide bank headquartered in Minneapolis, Minnesota, we are committed to helping our clients meet their financial goals with a blend of modern technology, traditional values, and the trusted guidance of experienced professionals. Known for our exceptional commitment to customers, we take pride in delivering a seamless, supportive experience for every step of the journey. Our dedicated mortgage division has branches and a team of loan originators across the US, making expert home financing solutions accessible to communities nationwide. Luminate Bank is committed to safeguarding your money and accounts with FDIC insurance coverage up to applicable limits. Learn more about how we can open doors for you at www.luminate.bank , follow us on Instagram, LinkedIn, and Facebook, or call (952) 939-7200. For media inquiries, please contact: Debbie Schwake, CMO debbie.schwake@luminate.bank
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