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For home buyers, no holiday discounts this year!

Posted by Scott Van Voorhis December 4, 2012 06:56 AM

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Homes sellers this holiday season are playing the Grinch instead of Santa for a change.

Dashing hopes of buyers seeking bargains during what is typically a sleepy time of year for home and condo sales, sellers are holding the line on price discounts, new reports show.

The percentage of homes in the Boston area with price reductions has dropped to 44 percent, down from nearly 50 percent a year ago, Trulia reports.

Another report penned by a real estate agent points to a potentially even steeper drop in the number of discounted homes on the market in the Hub. However, that number - 42 percent - appears driven by the large drop in the number of homes on the market, with inventory having plunged by 44 percent.

Either way, it may not be easy pickings for buyers this December, a time of year when sellers who haven't pulled their home off the market are more inclined to cut the price in order to make a deal.

With sales rising and signs that prices may not be far behind, some sellers may be willing to hold the line on price in hopes that if all else fails, they can cash in what could be a strong spring market. Could be that is, barring a complete fiasco down in Washington, which, sad to say, is quite possible.

After all, if we go over the fiscal cliff and plunge back into recession, some of those sellers may wind up wishing they had been a little more like Santa instead of the Grinch back in December.

This blog is not written or edited by or the Boston Globe.
The author is solely responsible for the content.

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About boston real estate now
Scott Van Voorhis is a freelance writer who specializes in real estate and business issues.

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