Best closing day for buyers? Dec. 26

‘Tis the season.

To buy a house, at least. According to ATTOM Data Solutions, for those buyers looking for a bargain, Dec. 26 is the best day to close on a home to have the biggest discount. Those who close on the day after the Christmas holiday typically save 1.3 percent, or $2,500, on their home purchase. The report looked at more than 18 million single-family property sales over the past five years to compile the data and found that overall, December is a great time to buy. Seven of the top ten best closing dates for buyers are in December, with dates in October, November and February each nabbing a spot on the list.

Following Dec. 26, Dec. 7 is the second-best day to purchase a home, with buyers saving 1 percent, or $2,000. Dec. 4 nabbed third place, saving buyers $1,823, or again, about 1 percent. Buyers who purchase after the Christmas holiday, but before New Year’s Eve, on Dec. 29, save about 0.7 percent of $1,320. Closing on Dec. 21 rounds out the top five, with buyers saving $1,223 or 0.6 percent.

Dec. 1, Oct. 12, Nov. 9, Feb. 9 and Dec. 8 all offered discounts for buyers from 0.5 percent to 0.1 percent.

“People closing on a home purchase Dec. 26 were submitting offers around Thanksgiving and starting their home search around Halloween, likely not a common path to home purchase for most buyers and exactly why it’s the best time to buy,” said Daren Blomquist, senior vice president with ATTOM Data Solutions. “Buyers and investors willing to start their home search right about when stores are setting up Christmas decorations will face less competition and likely be dealing with more motivated sellers, giving them the upper hand in price negotiations.”