Please wait as we prepare your PDF file ....

Mission Chronicle Blog

Search Blog

our goal is to help you stay informed by providing timely and interesting articles.

This is the best week of the year to buy a home

09/23/2019

Download PDF

Home shoppers the week of Sept. 22 will find less competition, more price reductions and a larger amount of inventory, making this week the “Black Friday” of real estate, according to a new study released Friday by realtor.com

Of the 53 markets tracked by the real estate listing portal, 41 markets reported the week of Sept. 22-28 as the best time of the year to buy a home.

“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,” George Ratiu, senior economist of realtor.com, said in a statement. “With dramatically less competition, persistent buyers will feel the scales tip in their favor as eager sellers begin to cut their prices in an effort to entice a sale.”

“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,” Raitu added.

In the last three years, buyers face, on average, 26 percent less competition, with 6.1 percent more homes on the market than the average week, according to metro-level data compiled by realtor.com from 2016 to 2018. Nearly 6 percent of homes go through price reductions this week and tend to be 2.4 percent cheaper than at their peak, the study found.

“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,” Raitu added.

Can you buy or sell an entire book of business? Yes and here’s how. The Agent Succession Program brings together agents looking to move up and those looking to move on READ MORE

Data courtesy realtor.com

The impact of the lower competition and increase in price reductions will be most strongly realized in the West, where buyers have almost 30 percent less competition than the average week. List prices are down 4 percent and nearly 9 percent of homes will see a reduction.

Email Patrick Kearns

Source: click here

Read More

INSPIRED, INTELLIGENT, INSIGHTFULL

STAY INFORMED WITH TIMELY AND INTERESTING ARTICLES FROM OUR BLOG, MISSION CHRONICLE. OUR ASPIRATION IS TO PROVIDE REALTORS AND OTHER REAL ESTATE INDUSTRY PROFESSIONALS WITH EXCEPTIONAL RESOURCES AND SHARE OUR KNOWLEDGE TO PROPEL YOU TO YOUR GOALS.

  • Mission Chronicle Newsletter July 24, 2023

    Mortgage rates continued to press downward last week after the previous week's CPI data pointed to e...

  • Mission Chronicle Newsletter Feb 20, 2023

    Despite the recent downward trend in mortgage rates and hopes that the Fed was nearing the end of it...

  • Mission Chronicle Newsletter Feb 6, 2023

    The Federal Reserve meeting ended as market participants expected, with a quarter-point increase and...

  • Mission Chronicle Newsletter Dec 26, 2022

    Mortgage rates held relatively steady last week as most economic news came in better than expected.C...

  • Mission Chronicle Newsletter Dec 12, 2022

    Rates managed to move slightly downward last week as recession fears grew amid hopes that the Fedis ...

  • Mission Chronicle Newsletter Dec 5th 2022

    Mission Chronicle Newsletter Dec 5th 2022. Platforms: Browser, mobile-responsiveIdeal for: Leasing a...

  • Inman Review: Tenants and leasing teams get better connected with RentTango

    Have suggestions for products that you’d like to see reviewed by our real estate technology ex...

  • Tech Review: Smart Alto puts people first in its innovative lead qualification solution

    Have suggestions for products that you’d like to see reviewed by our real estate technology ex...

  • Refreshed and nurture-savvy, Market Leader’s CRM deserves your attention

    Have suggestions for products that you’d like to see reviewed by our real estate technology ex...

  • The top 4 tips to improve your negotiation skills

    In today’s luxury real estate market, strong negotiation skills are an asset—you might even say ...

March 2024
Mon Tue Wed Thu Fri Sat Sun
 123
45678910
11121314151617
18192021222324
25262728293031

  • Polls

    What information you are looking for?

    View Results

    Loading ... Loading ...
  • Last month Results

    How Is My Site?

    • Good (100%, 3 Votes)
    • Excellent (0%, 0 Votes)
    • Bad (0%, 0 Votes)
    • Can Be Improved (0%, 0 Votes)
    • No Comments (0%, 0 Votes)

    Total Voters: 3

    Vote

    Loading ... Loading ...