The Best Time To Buy A House Is Now

By: Gem Home Loans

It’s well known that spring and summer are the housing market’s hottest seasons. But while they’re definitely the busiest times of the year, are they really the best for buyers? Well, according to one recent analysis, no. In fact, ATTOM Data Solutions looked at 27 million single-family home and condo sales that took place over the past seven years and determined that the best days for buyers are December 4 and January 26. Buyers who closed on those dates got the best deal.

Overall, December was found to be the best month to buy – though buyers still pay a 1.5 percent premium during the final month of the year. Compared to June, though, that’s a bargain. June has the highest premium at 6.9 percent. If you’re a buyer hoping to find a home below full market value the best places/times of year are Ohio or Tennessee in January, Michigan, and Delaware in February, or New Jersey In December. Buying in those states during those months can result in a discount of between 6 and 8 percent. (source)

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