The Best Time to Buy a House Is Less Than 2 Weeks Away

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Looking to buy real estate? Is your financing in place? If not, better hurry! To get the best deal, a new report recommends buyers shoot to close in December or January.

Although prices have been sky-high in many areas of the U.S. this year, that will change soon—really soon. Intel from ATTOM Data Solutions suggests the best day to pick up a property on the cheap (relatively speaking) is coming up quickly.

According to the analysis, “Buyers who close on December 4^th or January 26^th will get the best deal and pay exactly market value for a property, as opposed to above-market value in an extremely competitive market that has been on the rise. This analysis of more than 27 million single-family home and condo sales over the past seven years is evidence of the continuation of a hot sellers’ market.”

Related: Housing Markets Post-COVID: Which Ones Win? Which Lose?

For context, in June, homes were selling nationwide for an average premium of 6.9%. That premium is forecast to improve to just 1.5% in December, per ATTOM’s report.

The analysis goes on to examine prices state by state: “According to the study, the states realizing the biggest discounts below full market value were Ohio (-7.4% in January); Michigan (-7.2% in February); Delaware (-6.3% in February); Tennessee (-6.2% in January); and New Jersey (-5.8% in December).”

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