Now's the Time: Late Summer Is the Best Season For Homebuyers to Score a Deal in These U.S. Metros

In Atlanta, Denver and Seattle, house hunters may want to hold out just a little longer: The best deals in those metros tend to arrive in 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 Asad Khan, a senior economist at Redfin. "Sellers who put their home in the market in the spring or early summer and haven't offloaded it yet may be open to dropping their price or offering concessions."

Early Fall Is the Best Time For Deals in Texas 

Prime dealmaking time comes in mid-September in Texas and Southern California, along with Baltimore, Jacksonville, FL and Nashville, TN. 

Late September is the sweet spot for buyers to get a deal in Houston, Las Vegas, San Francisco and Washington, D.C. 

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 Texas, Nashville and Atlanta, for instance, there are roughly twice as many home sellers as buyers in the market. 

"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 Vanessa Leimback, a Redfin Premier agent in the Seattle area. "First-time buyers are getting qualified, applying for first-time homebuyer incentives and getting concessions from sellers—often to help buy down the mortgage rate—and closing the deal. I'm also seeing a lot of homeowners who bought pre-2019 selling their home and using their equity to upgrade to a larger house with more land."

In places like Nassau County and Newark—both located just outside New York City—which are seller's markets, buyers may want to pay extra attention to the best time of year to score a deal. 

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 U.S. metros, please visit: https://www.redfin.com/news/best-time-to-buy-home-late-summer 

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