Interesting article I thought I would share before the holiday madness begins. It mentions the best days to buy a home. I wish you and your loved ones a happy holiday season and blessed new year!
“Homebuyers thinking of spending big on Black Friday and Cyber Monday may want to hold back for a larger purchase next month.
An analysis by ATTOM Data Solutions shows that seven of the top ten days to buy a home are in December and that’s because there are discounts to be found.
The study discovered that only ten days in the year bring discounts below the estimated market value based on 18 million single family home and condo sales over the past five years is evidence of the hot sellers’ market of the past five years.
“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 Data Solutions. “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.”
States, metros with the biggest discounts
The states realizing the biggest discounts below full market value were Ohio (-8.8% in January); Michigan (-7.9% in February); Nebraska (-7.3% in December); Tennessee (-6.8% in December); and Delaware (-6.5% in December).
The metro areas realizing the biggest discounts below full market value were Dayton (-13.1% in January); Detroit (-12.8% in February); Cleveland (-12.0% in January); Honolulu (-10.3% in June); and Milwaukee (-9.3% in December).” (information courtesy of MPA)