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IRVINE, Calif. — Dec. 4 stands out as the best day of the year to buy a home, while November’s 7.3% premium — the lowest of any month — offers advantages for buyers as well, according to real estate analytics company ATTOM.
According to ATTOM’s latest analysis of more than 52 million single family home and condo sales over the past 11 years, buyers who close on December 4 are seeing the lowest premium above the automated valuation model (AVM). While still above market value, homebuyers are only paying a 4.8% premium, compared to the 14.6% premium buyers are seeing on May 27.
Other days of the year offering lower premiums for homebuyers include:
- Oct. 2 (5.0% premium above market value)
- Dec. 24 (5.1% premium)
- Jan. 16 (5.1% premium)
- Nov. 13 (5.3% premium)
- Oct. 9 (5.5% premium)
ATTOM’s new 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, the best months to buy are November (7.3% premium above market value); October (7.4% premium); December (7.6% premium); August (8.0% premium); and September (8.0% premium).
Biggest discounts below full market value by state
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); and Minnesota (-0.9% in December).
Methodology
For this analysis ATTOM looked at any calendar day in the last 11 years (2013 to 2023) with at least 15,000 single family home and condo sales. There were 362 days (including leap year data) that matched these criteria, 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 (AVM) for those same homes at the time of sale.
Source: ATTOM
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