According to a study by Attom Data Solutions for the American market, published in the Inman magazine, the day after Christmas, December 26, is the best day to get a discount on buying a home. In general, the month December is the best month to buy a home.
Buyers and investors who start looking for real estate when stores are still putting together Christmas decorations face less competition and are probably dealing with more motivated sellers by giving them an edge in price negotiation.
Just 10 days a year offer rebates really below the estimated US market value – and no overall month, according to Attom Data Solutions analysis. Seven of these days are in December, one in October, and another in November and February.
Attom’s data are based on the last 5 years of sales, where the lack of market discounts is attributed to the rise in the sales market in recent years.
On December 26, buyers can save an average of about 2500 dolares in a purchase of a property and, on December 7, they can save around 2000 dolares.
Similarly, the end of May is the worst time to buy a home. Buyers can pay, according to the data of the last 8 years, more than 9% over the estimated value.
The fact that December is one of the best days to buy has to do with many of the potential buyers being on vacation and thus not actively looking for a home, which means less competition for the few contractors who are buying.
The days of October, November and February are related to bad weather, especially when it comes to buyers making offers. Keep in mind that the dates shown here are approximately one month after the offer is accepted.
On October 12, buyers can get, on average, a discount of 1000 dolares, these deals were probably accepted during the worker’s day. And on 12 February, when buyers can receive a discount of 500 dolares, offers were probably accepted during the new year’s.
In general, on December, buyers can expect to pay only 0.5% on the estimated value of the sale. The highest estimated prices occur in the month of June, where buyers can expect to pay 7.3% above the estimated value.
The best month to buy a home changes depending on the region where they are. The seasons, or the cold weather like autumn and winter tend to offer the best discounts.
So, if you are thinking about buying a house, do not waste any more time, start to deal with it today. Contact us, we can help you with this process.