Weekly Real Estate News
Christmas shoppers might want to consider adding homebuying to their last-minute shopping spree. According to a data report from ATTOM, Dec. 24 is the single best day of the year for buying a home.
In an analysis of more than 48 million single-family home and condo sales over the past 10 years, buyers who close on Christmas Eve enjoyed the lowest premium above the automated valuation model. While still above market value, homebuyers are only paying a 3.8% premium, compared to the 14% premium buyers are seeing on May 27, the worst day of the year for homebuying.
Other days of the year offering lower premiums for homebuyers include Nov. 6 (5.0% premium above market value); Sept. 11 (5.0% premium); Oct. 9 (5.2% premium); Nov. 5 (5.3% premium); and Oct. 2 (5.4% premium).
ATTOM declared the best months for buying a home are October (7.0% premium above market value); November (7.2% premium); September (7.5% premium); August (7.7% premium); and July (7.9%).
ATTOM’s analysis covered 362 days (including leap year data), with the four exceptions being Jan. 1, July 4, Nov. 11, and Dec. 25. To calculate the premium or discount paid on a given day, ATTOM compared the median sales price for homes with a purchase closing on that day with the median automated valuation model for those same homes at the time of sale.
