When you buy a home, you want to buy at a time when you can get the best home at the best price. And that time is right now—in the month of October.
According to a recent analysis from ATTOM Data Solutions (which analyzed 33 million home sales over the past eight years), if you’re planning on buying a home, October is the best time of year to score a deal. While you’ll still pay a premium above market value, that premium is far less than what you’d pay in prime spring home buying months—2.9 percent in October compared to a whopping 11.5 percent in May.
The Takeaway: So, what does that mean for you? By buying a home in October, you could pay 8.6 percent less of a premium for your property than you would if you purchased that same home in May—so if you’ve been thinking about buying a home, now is the time to make a move.