Buying A Home In the Winter Has Advantages
Though spring and summer are the housing market's busiest time, winter may be the best time for buyers. In fact, according to a new analysis from ATTOM Data Solutions, winter buyers have the best chance of buying a home at a price below its estimated market value. The analysis found that December is the best month for buyers and the day after Christmas and New Year's Eve are the days offering the biggest discounts. Todd Teta, chief product officer with ATTOM, says buyers willing to make a deal during the busy holiday season will be financially rewarded. “Closing on a home purchase the day after Christmas or on New Year's Eve can be one of the most financially beneficial holiday-season gifts you can get,” Teta said. “While lots of folks are shopping the day-after Christmas sales or getting ready to ring in the New Year, our data shows that buyers and investors are buying homes on those days at a discount. That's a far cry from buying during June when they are likely paying about a 7 percent premium.” By comparison, December buyers pay about a 1.2 percent premium. More here.