The top 10 best days of the year to buy a home
There are seven in December (so get moving), and one each in October, November and February.
IRVINE, Calif. — If you are looking to buy a home, there are only 10 days of the year that offer discounts below estimated market value, according to an analysis ATTOM Data Solutions, a property database, released Tuesday.
But you’d better hurry; seven of those days are in December. There’s one each in October, November and February.
According to the analysis, buyers willing to close on a home purchase the day after Christmas realize the biggest discounts. This analysis of more than 18 million single-family home and condo sales over the past five years is evidence of the hot seller’s market.
‘‘People closing on a home purchase December 26 were submitting offers around Thanksgiving and starting their home search around Halloween — likely not a common path to home purchase for most buyers and exactly why it’s the best time to buy,’’ said Daren Blomquist, senior vice president with ATTOM. ‘‘Buyers and investors willing to start their home search right about when stores are setting up Christmas decorations will face less competition and likely be dealing with more motivated sellers, giving them the upper hand in price negotiations.’’
The states realizing the biggest discounts below full market value were Ohio (8.8 percent in January), Michigan (7.9 percent in February), Nebraska (7.3 percent in December), Tennessee (6.8 percent in December), and Delaware (6.5 percent in December).
The metro areas realizing the biggest discounts below full market value were Dayton (13.1 percent in January), Detroit (12.8 percent in February), Cleveland (12.0 percent in January), Honolulu (10.3 percent in June), and Milwaukee (9.3 percent in December).
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