The best time to buy a house is coming up fast
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Illustration: Brendan Lynch/Axios
House hunters, circle Sept. 27–Oct. 3 on your calendars.
Why it matters: That may be the best week of the year to buy a home, according to a new Realtor.com report.
By the numbers: Nationwide, shoppers could find up to 32% more homes for sale than at the start of the year and face less competition than in spring and summer, per the real estate site.
- Plus, listing prices typically fall around 4% from their seasonal high — potentially saving buyers $14,000 on a median-priced home.
The big picture: "Home shoppers heading into fall will find an opportunity that has been hard to come by in recent years: more choices and less urgency," Realtor.com senior economist Hannah Jones said in a press release.
Yes, but: Mortgage rates near 7% and stubbornly high home prices continue to sideline many.
- U.S. existing-home sales fell 2% in August, down 1.2% from a year ago, according to the National Association of Realtors.
Zoom in: The best week to buy depends on where you live. It ranges from Sept. 6–12 in New York and Milwaukee to Nov. 29–Dec. 5 in Miami and Tampa Bay, Florida.
- More than a dozen major metros, including Atlanta, Chicago, Dallas, Denver and Philadelphia, match the national Sept. 27–Oct. 3 window.
The fine print: Realtor.com analyzed several years of seasonal housing data, including listing prices and inventory levels, to determine the best week to buy a home nationally and in the 50 largest U.S. metros.
- Mortgage rates weren't included.
The bottom line: Buyers may get a little more breathing room this fall — if they can clear the affordability hurdle.
