Courtesy of First Team Real Estate
If you’re looking for a discount on your home purchase, then the best time to buy is during the holidays. ATTOM Data Solutions put togehter an analysis of more than 18 million single family home and condo sales over the past five years and the results show that the biggest discounts for buyers come in October, November, December and February.
In fact, the optimal savings on a home comes when you close the day after Christmas! Skip the after Christmas sales at the mall and head straight for the real estate market. So if you want that extra savings on your next home, click here to start your home search now.
Why Buyers Get Deals During the Holidays
Why are the holidays bringing homebuyer deals? Most likely a combination of incliment weather and the fact that sellers who list during the holidays are more motivated and willing to negotiate. According to the data, the states with the biggest discounts below full market value were those with severe winters inlcuding 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). Nobody wants to go house hunting in the snow.
However, the weather isn’t the only reason for the money saving this time of year. Sellers who place their home on the market during this time of year are usually more motivated and serious about their home sale.
Even though the holidays are filled with busy schedules, vistors to entertain, and added familial responsibilities, these sellers have taken the time to put their house on the market and uproot their lives because it’s a must. Motivated sellers equal an easier negotiation process and more flexibility for you as a buyer.