Many people think that a time like March, April or May is the best month to buy a home. However, new data shows that seven of the 10 best days of the year to buy a home fall in December. Winter is usually the cheapest time of year to buy a home. Salespeople are often motivated, which automatically translates into an advantage for you.
Most people suspend their ads from Thanksgiving to the New Year because they assume that shoppers are scarce. Sellers who list at that time usually want to sell as soon as possible. They may even be more willing to offer additional benefits, such as appliances and window treatments. As a buyer, keep in mind that there are still plenty of homes to choose from in December, January, and February.
As you can see, properties listed in December, January and February have the highest median number of days in the market before closing. Therefore, buying a property during those months may offer more price discounts. According to the data in the graph above, October is the best month to buy a property because the premium is lower, at 2.9%. So, if you want to buy a property, look in October, November, December, January and February.
The best time of year to buy a home is during fall and winter, while the worst time of year is during the spring and summer months. This seasonality is due to predictable changes in weather conditions, market competition and home prices, and is a crucial factor in the economics of buying a home. That's why, whether you're an interested buyer or a real estate professional who wants to inform your clients about market prospects, it's important to know how these trends influence sales prices. The time to get pre-approved for a mortgage is NOW.
Because December is by far the best month to buy a home.