The best week to buy a home this year: Oct. 1-7

by Emily Marek

Sidelined homebuyers can breathe a sigh of relief. According to Realtor.com, the best week of the year to buy a home is still ahead of us.

Based on list prices, inventory levels, new listings, homebuyer demand and price reductions in 2018, 2019, 2021 and 2022, home shoppers can expect to find the best deals during the week of Oct. 1 through 7, according to the real estate website.

“Ideally, this week will offer buyers more options at lower-than-peak prices, as well as less competition from other buyers and slightly more time to deliberate,” said Hannah Jones, senior economic research analyst at Realtor.com.

In addition to a projected 18.9% influx of new listings and a 17% boost to total active listings in the first week of October, Realtor.com predicts the typical buyer could also save over $15,000 if prices fall from their summer peaks as expected.

And while high interest rates may still put a damper on some buyers’ plans, they’ll also decrease overall market competition this fall.

“Would-be buyers who have a sub-4% loan on their current home are out of the market,” said Bruce Ailion, a lawyer and real estate agent at RE/MAX Town and Country in Atlanta.

Families with children are also unlikely to move in the fall due to school, further decreasing competition.

“Moving is no longer convenient for this larger market sector,” Ailion continued. “And in general, we are no longer seeing huge numbers of multiple offers and those dramatically over-asking price offers. This October is a great time to buy.”

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