Attom Data Solutions tells us that the best time to buy a home is during the month of December. Quite simply, the best three days of the year to purchase a home all fall in December due to the biggest discounts. Those three days are…
- December 26
- December 31
- December 4
ATTOM’s chief product officer, Todd Teta, said, “Closing on a home purchase the day after Christmas or on New Year’s Eve can be one of the most financially beneficial holiday-season gifts you can get. While lots of folks are shopping the day-after Christmas sales or getting ready to ring in the New Year, our data shows that buyers and investors are buying homes on those days at a discount.”
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Despite price discounts in December, remember that buyers will still pay a premium of 1.2% above the estimated value of the house…they just won’t pay a premium of +7% above estimated value as they would if they bought that same house in June.
Regionally, the best months to purchase a home are…
- Ohio – -7.4% in January
- Michigan – -7.2% in February
- Delaware – -6.3% in February
- Tennessee – =6.2% in January
- New Jersey – -5.8% in December
- Maryland – -5.6% in December
- Illinois – -5.3% in December
- Hawaii – -5.2% in June
- Pennsylvania – -4.5% in December
- Nebraska – -4.1% in November
States with higher price premiums during the winter months include…
- New Mexico – +9.8% in December
- Kansas – +9.3% in October
- Texas – +6.7% in December
- Missouri – +6.4% in October
- Vermont – +5.6% in December
- Idaho – +3.1% in October
- Alabama – +1.1% in December
- Virginia – +1.0% in December
Thanks to ATTOM Data Solutions for source data.
Also read: 2019 Profile of Home Buyers & Sellers, Make Final Walk-Throughs Non-Events, 2020 Real Estate Market Predictions
