Move over, Black Friday. A recent report suggests that there’s an even better day to save money over the rest of the year. While this day won’t bring you deals on a new 4K television, it will definitely be appealing for anyone in the market for a new home. The ideal day to purchase a home is December 26th, the day after Christmas.
How Much Savings Does This Day Bring?
According to a new report from ATTOM Data Solutions, prospective home buyers who choose to wait until December 26th to make a home purchase could be saving almost 2,500 dollars. When considering the fact that home buyers usually spend about 7,000 dollars more than the estimated market value of the property during the rest of the year, this is a huge win.
How Did ATTOM Determine This?
ATTOM took the median sales price on December 26th and compared it to the estimated market value of the rest of the year. ATTOM found that buyers in the market for a home tend to skip out on their search during the holidays. This makes December the ideal month to look for a home, because there is less competition.
How Can Buyers Take Advantage?
Buyers who decide to purchase a home over the holiday season can reap in multiple benefits, from less competition to bargain deals. Sellers will also be more determined to close a deal because they want to be out of their homes either before the end of the year, or early January. In order to take advantage of the December 26th deals, buyers will need to time their offers as best as they can. For best results, buyers should submit them about a month before they plan to close.
Lakeside Title Is Here to Serve You!
Lakeside Title provides title insurance and numerous title-related services, all while making sure your transactions and funds are protected and secure. Our processes streamline residential and commercial real estate transactions for lenders, realtors, buyers, and sellers. To learn more, give us a call at 410-992-1070. We look forward to the chance to serve you!