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The best day to get a deal on a home in this chaotic housing market is coming up, according to real estate data firm Attom Data Solutions.
Attom analyzed 47 million single-family home and condo sales over the past 10 years and found buyers typically get the best deal on Jan. 9.
In this case, “best deal” means the lowest premium over what Attom calls the “automated valuation model” — or what the firm estimates the value of a house to be compared to what it sold for.
On Jan. 9, the median sale price of a home is $190,000, compared to the median automated valuation model of $183,000, meaning buyers only pay a 3.8% premium over what the house would be worth, according to Attom.
Overall, the best time to buy a home by paying the smallest premium is in the fall, with days in October, November and December topping the list, according to Attom. Dec. 4 and Oct. 9 typically see a 4.4% premium on the median sale price.
In comparison, those who buy a home on May 28 pay a 14.4% premium above the automated valuation model, according to Attom.
Keep reading in the Kansas City Business Journal.