more of an upper hand in negotiating a good deal, according to Danielle Hale, Realtor.com’s chief economist.
NerdWallet.com analyzed home sales in the 50 most populated U.S. metro city areas using two years of data from Realtor.com, discovering two key findings that work to a buyer’s advantage: 1) Sale prices begin to drop in fall; and 2) Home sale prices are typically lowest in winter. “Market conditions during the fall and winter overall lend to great prices,” says Julie Haley. “Many…sellers will drop prices after the spring and summer seasons end, just trying to get their property sold with the given fiscal year. “These market attributes create an atmosphere in which property prices are highly negotiable during the fall and winter,” she continues, “and buying multiple bank-owned properties at the end of the fiscal year can create deep discounts.” While home sale prices don’t usually drop dramatically as summer turns into autumn, the final sale prices do take a significant and noticeable drip. According to NerdWallet.com and Realtor.com, home sale prices dropped from summer to fall an average of 2.96%, which equates to $8,300 on the median home. SALE PRICES BEGIN TO DROP IN FALL
HOME SALE PRICES ARE TYPICALLY LOWEST IN WINTER
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