ATTOM Identifies Best Day to Buy a Home Based on Lowest Premium Over Automated Valuation Model

daa0bea65706d79b26e25c37a3b1f672 ATTOM REVEALS BEST DAY TO BUY A HOME BASED ON LOWEST PREMIUM ABOVE AVM

December 4th and November Offer 2024’s Lowest Homebuying Premiums

IRVINE, Calif., Nov. 14, 2024 — , a leading curator of land, , and , today released its annual analysis highlighting the best days of the year to purchase a home. The report found that while November offers a 7.3 percent premium, it remains the lowest premium for buyers. Additionally, December 4th stands out as the single best day to buy a home.

Powering Innovation with Property Data (PRNewsfoto/ATTOM)

According to ATTOM’s latest analysis of more than 52 million single family home and condo sales over the past 11 years, buyers who close on December 4th are seeing the lowest premium above the (AVM). While still above market value, homebuyers are only paying a 4.8 percent premium, compared to the 14.6 percent premium buyers are seeing on May 27th. (Full methodology is enclosed below.)

Other days of the year offering lower premiums for homebuyers include: October 2nd (5.0 percent premium above market value); December 24th (5.1 percent premium); January 16th (5.1 percent premium); November 13th (5.3 percent premium); and October 9th (5.5 percent premium).

ATTOM’s new analysis also looked at the best months to buy at the national level and best months to buy at the state level.

Best Months to Buy
Nationally, the best months to buy are November (7.3 percent premium above market value); October (7.4 percent premium); December (7.6 percent premium); August (8.0 percent premium); and September (8.0 percent premium).

Best Months to Buy by State
According to the study, the states realizing the biggest discounts below full market value are Michigan (-3.2 percent in December); Connecticut (-1.2 percent in January); Hawaii (-1.1 percent in June); Illinois (-0.9 percent in December); and Minnesota (-0.9 percent in December).

Methodology
For this analysis ATTOM looked at any calendar day in the last 11 years (2013 to 2023) with at least 15,000 single family home and condo sales. There were 362 days (including leap year data) that matched these criteria, with the four exceptions being Jan. 1, July 4, Nov. 11, and Dec. 25. To calculate the premium or discount paid on a given day, ATTOM compared the median sales price for homes with a purchase closing on that day with the median automated valuation model (AVM) for those same homes at the time of sale.

About ATTOM 
 provides premium  and  that power a myriad of solutions that improve transparency, innovation, digitization and efficiency in a data-driven economy. ATTOM multi-sources property tax, deed, mortgage, foreclosure, environmental risk, natural hazard, and  for more than 155 million U.S. residential and commercial properties covering 99 percent of the nation’s population. A rigorous data management process involving more than 20 steps validates, standardizes, and enhances the  collected by ATTOM, assigning each property record with a persistent, unique ID — the ATTOM ID. The 30TB ATTOM Data Warehouse fuels innovation in many industries including mortgage, real estate, insurance, marketing, government and more through flexible data delivery solutions that include , , , ,  and more. Also, introducing our newest innovative solution, making property data more readily accessible and optimized for AI applications – .

Media Contact:
Megan Hunt
 

Data and Report Licensing:

SOURCE ATTOM

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