The greatest days of the year to buy a home are highlighted in ATTOM’s annual report and according to the survey, November still has the lowest premium for buyers while offering a 7.3% premium. Further, December 4 has been deemed the best day to purchase a home.
Buyers who close on December 4th receive the lowest premium above the automated valuation model (AVM), according to ATTOM’s most recent review of over 52 million single-family home and condo sales over the previous 11 years. In contrast to the 14.6% premium purchasers are seeing on May 27, homebuyers are only paying a 4.8% premium, even if they are still above market value.
Homebuyers can also take advantage of lower premiums on October 2 (5.0% premium over market value), December 24 (5.1%), January 16 (5.1% premium), November 13 (5.3% premium), and October 9 (5.5% premium).
Note: The best months to purchase at the state and national levels were also examined in ATTOM’s recent report.
ATTOM Reveals Best Months to Buy a Home
November (7.3% premium above market value), October (7.4% premium), December (7.6% premium), August (8.0% premium), and September (8.0% premium) are the best months to purchase nationwide.
According to the study, the states realizing the biggest discounts below full market value are:
- Michigan (-3.2% in December)
- Connecticut (-1.2% in January)
- Hawaii (-1.1% in June)
- Illinois (-0.9% in December)
- Minnesota (-0.9% in December)
To read more, click here.
The post Best Days to Buy: Purchasers Target Lowest Premiums Above AVM first appeared on The MortgagePoint.
