- Dec. 26 – the day after Chrismas – is best day to close on a house
- Fewer sellers, but less competition
- Spring and summer are busiest real estate seasons
By Hal DeKeyser
Ask just about any real estate agent when the best time to buy a house is, and the answer inevitably is “now.”During this Christmas season, that happens to be true.
According to a report by ATTOM Data Solutions, the absolutely best time to close on a house is the day after Christmas.
That’s “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.
In fact, of the best 10 days of the year to buy a house, seven of them are in December. The three non-December days were Oct. 12, Nov. 9, and Feb. 9. The day-after-Christmas discount was about 1.3 percent, ATTOM said, and it had the fewest sales of any of the Top 10 days.
We’ve been telling people this for years: If you want to get the best deal on a home, buy when no one else is. The holidays qualify. While there might be fewer homes for sale, your competition is just about nil. And at least some of the people selling this time of year are more committed than average to moving that house.
“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,” Blomquist said.
While the experience of all metro areas in the country were not the same, Las Vegas was neither at the top or bottom of the analysis.
The most competitive times to be buying a house are in spring, when the weather turns better in most of the country, and in summer, when parents are trying to move in and get settled before the kids have to go back to school.
So if you can handle house-hunting while managing the holiday season, it just might save you money.
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