ATTOM Report Pinpoints Best Month and Days to Buy a Home 

When it comes to buying a home, some days and months are better than others.

That’s according to ATTOM’S annual analysis, which highlighted the best days and months of the year to buy a home.

The report found that Dec. 24 stands out as the single best day to buy a home and that July offers the lowest premium of any month at 6.3% above market value, followed by November at 7.4%.

According to ATTOM’s latest analysis of more than 48 million single-family home and condo sales over the past 10 years, buyers who close on Dec. 24 are seeing the lowest premium above the automated valuation model (AVM).

Lower Premiums On a Home

ATTOM noted that while still above market value, homebuyers are only paying a 3.2% premium, compared to the 14.5% premium buyers are seeing on May 27, the highest of any day occurring every year.

Other days of the year offering lower premiums for homebuyers include: July 10 (3.5% premium above market value); July 9 (4.1% premium); July 3 (4.3% premium); July 2 (4.3% premium); and July 17 (4.6% premium). ATTOM said that in total, nine of the 10 lowest-premium days of the year fall in July.

ATTOM said its latest analysis also looked at the best months to buy at the national level and best months to buy at the state level.

Best Months to Buy

Nationally, ATTOM noted that the best months to buy are July (6.3% premium above market value); November (7.4% premium); October (7.8% premium); September (8.2% premium); and December (8.2% premium).

Best Months to Buy By State

According to the study, Hawaii (-1.8% in January) and Michigan (-1.7% in November) are the only states where buyers saw a discount below full market value in their best month. Buyers in three other states paid close to market value at their best time of year: Connecticut (0.0% in January); Minnesota (0.0% in December); and Illinois (0.1% premium in November).

The post ATTOM Report Pinpoints Best Month and Days to Buy a Home  first appeared on The MortgagePoint.