Are You Ready for the ‘Black Friday’ of Real Estate?

Dated: 09/25/2019

Views: 17

Are You Ready for the ‘Black Friday’ of Real Estate?

Are You Ready for the ‘Black Friday’ of Real Estate? | MyKCM

Every year, ‘Black Friday’ is a highly anticipated event for eager shoppers. Some people prepare for weeks, crafting and refining a strategic shopping agenda, determining exactly when to arrive at each store, and capturing a wish list of discounted must-have items to purchase. But what about buying a home? Is there a ‘Black Friday’ for the home-buying process? Believe it or not, there is.

According to a new study from realtor.comthe week of September 22 is the best time of year to buy a home, making it ‘Black Friday’ for homebuyers.

After evaluating housing data in 53 metros from 2016 to 2018, realtor.com determined that the first week of fall is when buyers “tend to find less competition, more inventory, and the biggest reductions on list price.

The report explains,

“During the first week of fall, buyers tend to face 26% less competition from other buyers, and they are likely to see 6.1% more homes available on the market compared to other weeks of the year...nearly 6% of homes on the market will also see price reductions, averaging 2.4% less than their peak.”

What’s so different about the first week of fall?

George Ratiu, Senior Economist with realtor.com says,

“As summer winds down and kids return to school, many families hit pause on their home search and wait until the next season to start again…as seasonal inventory builds up and restores itself to more buyer-friendly levels, fall buyers will be in a better position to take advantage of today’s low mortgage rates and increased purchasing power.”

Learn more about how prices, listings, and buyer competition stack up during the first week of fall in your metro area.

Bottom Line

If you want to take advantage of the ‘Black Friday’ of home buying, let’s get together to discuss the benefits of making your next move this fall.

Blog author image

Aida Urteaga

As a real estate professional with years of experience successfully helping clients achieve their dreams, I work with both buyers and sellers to secure the best possible deal in the shortest amount of....

Latest Blog Posts

The Overlooked Financial Advantages of Homeownership

The Overlooked Financial Advantages of HomeownershipThere are many clear financial benefits to owning a home: increasing equity, building net worth, growing appreciation, and more. If you’re a

Read More

How Pricing Your Home Right Makes a Big Difference

How Pricing Your Home Right Makes a Big DifferenceEven though there’s a big buyer demand for homes in today’s low inventory market, it doesn’t mean you should price your

Read More

The #1 Reason It Is Difficult to Find Your Dream Home

The #1 Reason It Is Difficult to Find Your Dream HomeThe headlines in real estate today all revolve around one major point: there is a shortage of homes available for sale. Price appreciation

Read More

Buying or Renting?

Home ownership is the American Dream, right? Owing a place to call home, being able to paint the walls purple if you like, that’s what everyone wants. Isn’t it? The reality is there are

Read More