The First Week of October Is the Best Time to Buy a Home—Here's Why

While the best time to buy a home is different for everyone, historical data shows that there is seasonality for the best time of the year for home buyers. According to Realtor.com, September 29th through October 5th is the best time to buy a home in the United States this year.

In early October, the demand for housing cooled down, creating more inventory and fresh listings for those in the market. As the demand declines, so does the pricing. According to the real estate site, “The best week also represents one of the peak weeks for price reductions throughout the year, with an average of 5.6%.”  

Realtor.com’s findings reveal that, based on past trends, summer is often the peak home buying time, and by early October, the listings can increase by 37%, making it an ideal time of the year for investing in a new home.

Families tend to buy new homes in the summer to not interfere with their children's schooling, allowing them to settle in before the new school year starts. In addition to the school calendar, depending on the region, many buyers try to avoid moving during bad weather. For most of the U.S., the summer months are more predictable, with good weather making it a popular time to move. During early October, buyers can be more intentional about their decision and not rush the process due to low competition and fear of missing out.

The best time to buy a home is a personal financial decision and is dependent on the market in your location and what is important to you. Working with realtors who know your area well, while also doing your own research and due diligence, is important for making this investment decision.

To learn more, see the full report, Best Time to Buy: 50 Largest Metro Areas, which includes a chart for when to buy in 50 metropolitan areas.