Key Details:
- ATTOM released its 2023 analysis of the best days of the year to buy a home.
- While the month of October still offers homebuyers the lowest premiums, January 9 emerged as the day with the lowest premium at 3.8%.
- ATTOM’s data is based on their analysis of over 47 million single-family home and condo sales over the past decade (2013 to 2022).
A new ATTOM analysis reveals the best day of the year to buy a home, based on the lowest premium above the automated valuation model (AVM).
And while a broader analysis of the best days for buying shows the month of October still offers lower premiums for homebuyers, January 9 emerged as the day with the lowest premium of the year at 3.8%.
On average, homebuyers are still paying more than market value (according to the AVM), but on January 9, they’re paying far less compared to the 14.4% premium they would pay on May 28th.
ATTOM’s data is based on its analysis of over 47 million single-family home and condo sales from 2013 to 2022.
If January 9th doesn’t work…
Here are five more days offering lower premiums for homebuyers:
- December 4th (4.4% premium above market value)
- October 9th (4.4%)
- October 2nd (4.5%)
- October 10th (4.5%)
- September 7th (4.6%)
The 5 Best Months to Buy a Home
ATTOM’s analysis also revealed the best months of the year to buy. At the national level, the five months with the lowest average premiums for homebuyers include—
- October (6.2% premium above market value)
- September (6.8%)
- November (6.8%)
- December (6.9%)
- August (7.6%)
The 5 Best States to Buy (in the Best Months)
According to ATTOM’s study, the five states with the biggest discounts below full market value, during the best month for that state, are
- Michigan (-2.6% in October)
- New Hampshire (-2.1% in December)
- Hawaii (-1.8% in June)
- New Jersey (-1.7% in February)
- Illinois (-1.6% in October)
For this analysis, ATTOM reviewed all calendar days over the last ten years—2013 to 2022—with a minimum of 15,000 single-family home and condo sales. That amounted to 362 days (including leap year data), with the four exceptions being January 1, July 4, November 11, and December 25.
To calculate the premium or discount for homebuyers on a given day, ATTOM looked at homes with a purchase closing on that day and compared the median sale price with the median automated valuation model (AVM) for those homes at the time of sale.
Read the full article for more information.
