There are several reasons why buying before the end of the year could be a great investment.
Tax benefits:
Mortgage Interest Deduction: To take advantage of this deduction for 2012, buy before the end of the year. Even though your deduction will be small since it will only be on 1 month of interest, it's better than nothing. You can deduct on any mortgage debt up to one million dollars.
Mortgage Insurance Premium: If you have PMI because your down payment was less that 20%, you may be eligible for a deduction. The deduction would be on the interest paid on your PMI payments. The caveat is that your adjusted gross income must be below $100,000. Incomes over $100,000 will have a reduced deduction of 10% for every $1000 over the
