Now's the Time: Late Summer Is the Best Season For Homebuyers to Score a Deal in These U.S. Metros
- Late August is the best time for homebuyers to score a deal in parts of
California ,Austin, TX and certainNew York City suburbs - Mid-September is the prime dealmaking window for buyers in
Baltimore ,Nashville ,Southern California and parts ofTexas - Late September is the sweet spot for buyers in
Houston ,Las Vegas ,San Francisco andWashington, D.C.
In
Late August | Early September |
This is according to a Home Economics and Redfin analysis of housing market data.
Discounts off a home's original asking price—through price drops and/or negotiations between buyer and seller—typically grow in late summer and peak in early fall. In some parts of the country, peak discounts arrive a little earlier or a little later. Discounts typically plateau or shrink heading into winter.
"Each homebuyer has their own timeline based on personal circumstances. But seasonality trends suggest buyers in these places looking to score a bargain may want to hit the pavement as summer comes to a close and the leaves start falling," said
Early Fall Is the Best Time For Deals in
Prime dealmaking time comes in mid-September in
Late September is the sweet spot for buyers to get a deal in
In These Metros, the Best Time For Homebuyers to Get a Deal Is Early Fall | |
Mid September | Late September |
Another bonus for buyers: Many of the places where the prime dealmaking window is late August or September are buyer's markets, meaning buyers hold the negotiating power. In most of
"Buyers have the power and the opportunity to get a great deal on a home they would have been priced out of two years ago," said
In places like
It's important for homebuyers to remember that the best time to buy is more complex than just the time of year when they're most likely to score a deal. Redfin economists say buyers should balance choice and competition. More inventory to choose from improves the chance of finding the home that's right for them, and more competition creates more urgency and requires stronger offers to win a home—decreasing the likelihood that buyers will get a deal.
To view the full report, including a methodology and data on the best time for buyers to get a deal in additional
About Redfin
Redfin is a technology-driven real estate company with the country's most-visited real estate brokerage website. As part of Rocket Companies (NYSE: RKT), Redfin is creating an integrated homeownership platform from search to close to make the dream of homeownership more affordable and accessible for everyone. Redfin's clients can see homes first with on-demand tours, easily apply for a home loan with Rocket Mortgage, and save thousands in fees while working with a top local agent.
You can find more information about Redfin and get the latest housing market data and research at https://www.redfin.com/news. For more information about Rocket Companies, visit https://www.rocketcompanies.com.
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SOURCE Redfin
