According to ATTOM’s analysis, the month of October, as well as the winter months, have offered homebuyers the best deals, fetching lower premiums than in other months of the year.
ATTOM looked at 33 million single-family home and condo sales over the past eight years and found that while the premium in October was still above market value, it was only 2.9 percent, as opposed to the month of May, when homebuyers were experiencing an 11.5 percent premium.
Nationally, days that fall in December offer the lowest premium for homebuyers, according to ATTOM: Dec. 5 saw a 1.6 percent premium, Dec. 26 a 2 percent premium, Jan. 6 a 2.2 percent premium, Nov. 9 a 2.3 percent premium, and Dec. 31 a 2.4 percent premium.
That’s a far cry from the month of May, May 23 and 27 offered a 17.4 percent premium, May 20 a 16.6 percent premium, May 16 a 15.6 percent premium, and May 19 a 15.4 percent premium.
According to the study, the states realizing the biggest discounts below full market value were Delaware (-7.9 percent in February); Tennessee (-7 percent in January); New Jersey (-4.9 percent in February); Maryland (-4.8 percent in November); and Ohio (-4.8 percent in January).