Prospective homebuyers who close on a purchase the day after Christmas enjoy the biggest discounts below full market value of any day in the year, according to a new analysis released by ATTOM Data Solutions.
In terms of price savings, December is considered the best month to buy a home – the average premium in that month is 1.2 percent. In comparison, the highest premium occurs with 7.1 percent in June. At a state level, the biggest discounts below full market value could be found in Ohio (-7.4 percent in January), Michigan (-7.2 percent in February), Delaware (-6.3 percent in February), Tennessee (-6.2 percent in January) and New Jersey (-5.8 percent in December). ATTOM Data Solutions analyzed more than 23 million single family home and condo sales from 2013 to 2018 for this statistical report.
"Closing on a home purchase the day after Christmas or on New Year's Eve can be one of the most financially beneficial holiday-season gifts you can get,” said Todd Teta, chief product officer with ATTOM Data Solutions. “While lots of folks are shopping the day-after Christmas sales or getting ready to ring in the New Year, our data shows that buyers and investors are buying homes on those days at a discount. That's a far cry from buying during June, when they are likely paying about a seven percent premium."