The Best Week to Buy a Home Is Fast Approaching

U.S. house hunters typically find more homes to choose from and bigger discounts in the fall

Those on the market for a home in the U.S. should circle Sept. 29 on their calendars.

The best time to buy a home in the U.S. is just a few weeks away, when a new influx of listings arrives on the market and competition levels off from its summer high, according to a report from Realtor.com. And buyers might actually actually pay $14,000 less for a home than they would have during peak times of this year.

Factors like price, competition and inventory combine to make the 40th week of the year, which this year spans Sept. 29 to Oct. 5, the best week to buy a home nationally, though it ranges from September to November depending on the particular city, per the report.

The fall season tends to see a new influx of listings, more inventory, lower prices and more price reductions, a far cry from the frenzied market peak typically seen in the spring.While these seasonal trends hold true, this year’s housing market certainly has had its own flavor, with high prices and low inventory keeping demand low, and all eyes on the Fed rate cut expected later this month.

 

From Sept. 29-Oct. 5, inventory is expected to be 14% higher than an average week, and 37% more compared to earlier this year, according to historical trends. Inventory has been trending upward this year, with new listings up every month since November on an annual basis, after a historic housing crunch during the post-pandemic rush, the report said.

On the competition side, the week of Sept. 29 historically has less demand, and homes stay on the market longer, giving prospective buyers some breathing room before making a decision. Demand (measured by views per listing) is expected to be down 29.5% from the peak that week and 14% lower than the average week, according to historical trends.

Finally, prices tend to settle slightly after the summer peak and sellers offer more price reductions to accommodate the drop in demand. “Adjusting for this year’s trends, buyers shopping during the best week could save roughly $14,000 compared with the year’s peak nationally,” the report said.

On a metro level, the best week to house hunt matches the national average in 20% of cities, including Dallas, Chicago, San Diego, and St. Louis. In most Northeastern cities, including New York, the best week to buy is in September, while in most Midwestern cities the best buying time is after the first week of October.

In the Southeast, the ideal buying time is in late October to early November. Miami is the only city where the best week to buy is in a different season altogether—coinciding with peak snowbird season—in January.