Although it’s tough to see through the early morning frost coating our car windows, spring home buying season is nearly upon us. But you don’t need to wait for the first signs of spring.

Whether or not you buy in the winter, you can get a head start on the home buying process: check out your credit report to make sure all is in order, attend a home buying seminar and have your loan pre-approved (both offered through OnPoint Mortage Services), get connected to a real estate agent, and don’t forget your raincoat.

Here are seven reasons why late winter is an excellent time to buy.

Housing prices tend to be lower. While this will depend on the local market, December, January, and February tend to reflect the lowest housing prices for the year. Inventory might be low in December, but houses start to come on the market in January and February. With less demand, prices may be more affordable, increasing your buying power.

Fewer buyers to compete with. Winter is not a popular time to move. The weather is cold and dreary, and the inventory is low. For parents, school is back in full swing after the winter break. For all these reasons and more, it’s your chance to take advantage of the lull and get ahead of the game. You may experience rare benefits in this market such as more negotiating power, less risk of a bidding war, and more time to consider putting an offer down.

Sellers may be more motivated to negotiate. Hand in hand with the lower number of active shoppers, sellers who list their homes in the winter may be willing to negotiate on price to secure a sale. Maybe they are buying a new home themselves, relocating for a job, going through a divorce, or settling an estate. Whatever the reason, if there are fewer buyers, sellers are more likely to consider a lower offer or negotiate on closing costs, taking care of some home maintenance before the sale, or other items.

More time with your real estate agent and lender. With housing competition as fierce as it stands now, it’s all the more important to find a good real estate agent and lender. Starting your search in late winter will give your real estate agent more time to assess your wants and needs for a house, and to help you find your dream home before the competition picks back up. You will already have your loan pre-approved and have a better idea of what you are looking for, so you can be ready to jump when that perfect house hits the market.

A chance to note the effects of winter on the house. While viewing a house on a warm, sunny day may be much more pleasant, visiting a home during bad weather can provide a more realistic view of life in the home. For example, if you are in Bend and anticipate dealing with snow, you may pay attention to features such as how well the furnace heats the house on chilly days, the steepness of a driveway, and the amount of sidewalk to shovel. In Portland, where much of the year is consumed with rain and overcast skies, it’s helpful to see how well the roof and surrounding neighborhood streets drain the precipitation. In addition, it’s important to note geographic factors such as elevation and amount of vegetation that may affect the level of light that the house is exposed to during winter months.

Going through with a home inspection is always important to the home buying process―doing so in winter will make sure you have the best chance of catching potential problems under the most demanding weather conditions your house is likely to experience.

Logistics might be easier, from the appraisal to moving in. If the housing market is slower, it might be easier and faster to schedule an appraisal and a home inspection, which can expedite your loan’s closing. Additionally, more moving companies might be available, giving you an easier time making arrangements to move into your dream home.

Oregon is a popular state to move to. While the population in Oregon declined in 2022 and 2023, particularly in Portland, many people are still looking to move into the state for natural beauty, outdoor recreation, no state sales tax, and a diverse job market, including the tech and agricultural sectors. And with the rise in remote working, more people will seek housing in rural and suburban areas. Most inter-state moves happen between April and September. Starting your home buying journey in the winter gets you a head start on potential competitors before they show up.

While rent prices have dropped in some markets in Oregon, mortgage rates are still relatively low but possibly still on the rise. Why not start the process now―lock in a lower rate and make your dream home a reality while enjoying the lower pressures that come from starting the process during the winter.

OnPoint Community Credit Union’s experienced Mortgage Loan Officers are here to help. With extensive knowledge of the local markets, they can help you through the process from pre-approval to close to make sure your home purchase is successful come rain or shine. Find your local loan officer today and get the conversation started.