Residential Real Estate News
October is the Best Month of the Year to Buy a Home in the U.S.
Based on new data from ATTOM, October continues to offer lower premiums for U.S. homebuyers, the single best day to buy a home is in January.
According to ATTOM's latest analysis of more than 47 million single family home and condo sales over the past 10 years, buyers who close on January 9th are seeing the lowest premium above the automated valuation model (AVM). While still above market value, homebuyers are only paying a 3.8 percent premium, compared to the 14.4 percent premium buyers are seeing on May 28th.
Other days of the year offering lower premiums for homebuyers include: December 4th (4.4 percent premium above market value); October 9th (4.4 percent premium); October 2nd (4.5 percent premium); October 10th (4.5 percent premium); and September 7th (4.6 percent premium).
Best Months to Buy
Nationally, the best months to buy are October (6.2 percent premium above market value); September (6.8 percent premium); November (6.8 percent premium); December (6.9 percent premium); and August (7.6 percent premium).
Best Months to Buy by State
According to the study, the states realizing the biggest discounts below full market value are Michigan (-2.6 percent in October); New Hampshire (-2.1 percent in December); Hawaii (-1.8 percent in June); New Jersey (-1.7 percent in February); and Illinois (-1.6 percent in October).
