IMPORTANT NEWS: The Paycheck Protection Program (PPP) general fund is exhausted as of May 5.  Learn More.

Skip to Main Content
Online Access

Online Access

BankSouth offers immediate and easy access to your mobile and online banking. You can also apply for and review your ReadyLoan mortgage application.

Learn More



For over ten years, BankSouth has helped thousands of families finance their homes.  We know how daunting this may be, but we take the worry and hassle out of the process.

Learn MoreStart Your Application

How Buying a Home in Winter Can Save You Money

Dec 12, 2017 Mortgage Speak

Waiting to buy a home until spring or summer seems like the obvious choice for most families. The weather is warmer, kids get to finish out the school year, and there’s (usually) an abundance of homes on the market to choose from. But what about that other crucial factor — affordability? If saving money falls high on your list of priorities, here’s why buying a home during winter might be right for you.

Lower Prices

A 2016 study by NerdWallet that analyzed home sales prices in the 50 most populous U.S. metro areas found that homes are 8.45% cheaper (on average) in January and February compared to June through August. That can translate to thousands of dollars in savings. To give you an idea, consider this scenario: The median existing-home price in June 2017 was $263,800. Assuming the 8.45% discount that you could get by buying in winter, you could save $22,291. Keep in mind, the extent of your savings will vary depending on where you live, but consider the benefits of those potential savings. Higher down payment? Money for updates or repairs? Extra funds for your retirement account? Buying during winter could open up a lot more possibilities for you.

Less Competition

Part of the reason prices are lower in wintertime is due to the lack of competition. Buyers come out in droves during spring and summer, but the holidays, cooler weather, and tighter housing inventory are all factors that typically keep buyers at bay during winter. With less demand, it drives prices down, making it the ideal time for buyers who are looking for the best deal possible. Plus, with fewer people to compete with, there’s less pressure to outbid other buyers, which can make your home search quicker and easier.

Motivated Sellers

On top of cheaper prices and sparse competition, sellers who list their homes in the winter are highly motivated to get them off the market. And since homes take longer to sell during winter, homeowners may be willing to accept lower than asking price. This gives you even more leverage to strike the right deal and save big.

Lower prices, less competition, and motivated sellers: Put all of that together, and you have a market that’s ripe for financially savvy homebuyers. If you’re thinking of buying a home soon, consider doing so this winter to maximize your savings.

Recent Posts

View our latest news and get the latest industry updates on our blog.

Each year on April 22, the world celebrates and recognizes the importance of our home – planet Earth –with organized efforts and acts to educate citizens across the world on how we can do our part to take care of...
According to the FBI, seniors lose more than $3 billion annually from financial exploitation. Millions of America’s seniors become victims of fraud each year and are the most targeted victims of this crime. The Georgia Division of Aging Services Adult...
Default Thumbnail
Haven’t received your stimulus payment? In early March, the Internal Revenue Service (IRS) began issuing a third round of stimulus payments as part of the federal government’s coronavirus economic relief plan. Payments have been and are still being issued by...