Buying a home? This day in January might be the best time to close with the lowest premium: study
LOS ANGELES - Thinking about buying a home? Waiting until January could save you some extra cash.
According to ATTOM, a leading curator of land, property and real estate data, certain days of the year could snag you a better deal when buying a home.
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ATTOM conducted an analysis of more than 47 million single-family home and condo sales over the past 10 years.
Nationally, the analysis found that buyers who closed in October, September, December and August typically saw better premiums.
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From that study, ATTOM found that certain days consistently offered lower premiums for homebuyers, especially December 4 (4.4% premium above market value); October 9 (4.4% premium); October 2 (4.5% premium); October 10 (4.5% premium); and September 7 (4.6% premium).
But while the total month of October offered more homebuyers lower premiums, ATTOM found that one specific day in January is the single best day to buy a home.
The analysis found that buyers who closed on January 9 consistently saw the lowest premium above the automated valuation model (AVM) when compared to any other day of the year.
ATTOM found that homebuyers closing on this day avoided prices well above market value.
To see the full analysis, tap or click here.