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NEW ATTOM ANALYSIS REVEALS BEST DAY TO BUY A HOME BASED ON LOWEST PREMIUM ABOVE AVM

Homebuyers closing on this day avoid prices well above market value;
Analysis also shows best months to buy nationwide and by state

IRVINE, Calif., Nov. 28, 2023 /PRNewswire/ — ATTOM, a leading curator of land, property and real estate data, today released its annual analysis showcasing the best days of the year to buy a home, which found that while October continues to offer lower premiums for homebuyers, the single best day to buy a home is in January.

According to ATTOM’s latest analysis of more than 47 million single family home and condo sales over the past 10 years, buyers who close on January 9th are seeing the lowest premium above the automated valuation model (AVM). While still above market value, homebuyers are only paying a 3.8 percent premium, compared to the 14.4 percent premium buyers are seeing on May 28th. (Full methodology is enclosed below.)

2023 Best Days to Buy A Home Infographic

Other days of the year offering lower premiums for homebuyers include: December 4th (4.4 percent premium above market value); October 9th (4.4 percent premium); October 2nd (4.5 percent premium); October 10th (4.5 percent premium); and September 7th (4.6 percent premium).

2013 to 2022 Sales of Single-Family Homes and Condos

Month

Day

 Number of Sales

 Median Sales Price

Median AVM

Premium/Discount

January

9

88,136

$                        190,000

$        183,000

3.8 %

December

4

128,366

$                        218,118

$        209,000

4.4 %

October

9

114,032

$                        215,000

$        205,930

4.4 %

October

2

150,036

$                        210,000

$        201,000

4.5 %

October

10

99,627

$                        210,000

$        201,000

4.5 %

September

7

104,402

$                        250,781

$        239,700

4.6 %

December

26

58,653

$                        205,000

$        195,330

5.0 %

November

13

134,777

$                        217,313

$        207,000

5.0 %

December

24

32,573

$                        258,990

$        246,408

5.1 %

October

16

134,428

$                        219,779

$        209,000

5.2 %


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 October (6.2 percent premium above market value); September (6.8 percent premium); November (6.8 percent premium); December (6.9 percent premium); and August (7.6 percent premium).

Best Months to Buy by State
According to the study, the states realizing the biggest discounts below full market value are Michigan (-2.6 percent in October); New Hampshire (-2.1 percent in December); Hawaii (-1.8 percent in June); New Jersey (-1.7 percent in February); and Illinois (-1.6 percent in October).

Methodology
For this analysis ATTOM looked at any calendar day in the last 10 years (2013 to 2022) 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.

About ATTOM
ATTOM provides premium property data to power products that improve transparency, innovation, efficiency and disruption in a data-driven economy. ATTOM multi-sources property tax, deed, mortgage, foreclosure, environmental risk, natural hazard, and neighborhood data for more than 155 million U.S. residential and commercial properties covering 99 percent of the nation’s population. A rigorous data management process involving more than 20 steps validates, standardizes, and enhances the real estate data collected by ATTOM, assigning each property record with a persistent, unique ID — the ATTOM ID. The 30TB ATTOM Data Warehouse fuels innovation in many industries including mortgage, real estate, insurance, marketing, government and more through flexible data delivery solutions that include bulk file licenses, property data APIsreal estate market trends, property reports and more. Also, introducing our newest innovative solution, that offers immediate access and streamlines data management – ATTOM Cloud.

Media Contact:
Christine Stricker
949.748.8428
[email protected] 

Data and Report Licensing:
949.502.8313
[email protected]

SOURCE ATTOM

Originally published at https://www.prnewswire.com/news-releases/new-attom-analysis-reveals-best-day-to-buy-a-home-based-on-lowest-premium-above-avm-301999151.html
Images courtesy of https://pixabay.com

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