Buyers in Pennsylvania saved an average of 4.5% when buying in December over the past six years, according to a new report from ATTOM Data Solutions.
In fact, the two best days to purchase are right around the corner. Across the country, the report found that Dec. 26 is the best day for buyers to close. Buyers saved .03% on average. Buyers who closed on Dec. 31 saved an average of 0.1%, while buyers who closed on Dec. 4 saved an average of 0.1%. The report analyzed the sale of more than 23 million single family home and condo sales over the past six years for the data.
“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 7% premium.”
Realtor.com® found that homes even close faster during the holidays, due to less busyness from lenders.
In the U.S., in December, the number of sales is slightly over 1.8 million, with an average sales price of $198,000. Other states that see advantages for buyers in the winter months include Ohio, Michigan, Delaware, Tennessee, New Jersey and Maryland. Sellers have the advantage in the winter in places like New Mexico, Kansas, Texas, Missouri, Vermont and Iowa.