Home buyers hoping to buy without busting their budget may be in luck. Because though mortgage rates continue to climb and prices remain high, the best days to buy a home are ahead of us, according to a new analysis from ATTOM Data Solutions.
The analysis looked at 39 million single-family home and condo sales over the past nine years in an attempt to narrow down the days buyers get the best deal. The results show buyers who bought on November 28 paid the lowest premium at just 1.1 percent above market value, making it the best day to buy a home.
December took five of the next six best days to buy, with premiums of 2 percent or lower on December 5, 26, 19, 12, and 24.
Rick Sharga, executive vice president of market intelligence at ATTOM, says seasonality has always had an effect on prices.
“Seasonality has always had an impact on home prices, which tend to weaken in the fall and winter months when there’s less buying activity,” Sharga said. “Savvy home buyers can take advantage of those lower prices and less competition from other buyers once the leaves start to turn.” (source)