If you’re on the fence about buying, you might be interested to know that the best week to buy a home all year will be September 29-October 5. During this week, a plethora of factors culminate, presenting buyers with increased inventory, lower than we’ve seen in a while interest rates, and less competition.
If you don’t find something during this magical week, don’t worry, experts say the three weeks following will be almost just as favorable for buyers.
Home prices have continued to appreciate on pace with last year, despite inventory increasing by 35.8% compared to August 2023. However, these numbers are still well below inventory levels buyers enjoyed during the pre-pandemic housing market and not enough to cause housing prices to level out at a more expected rate.
Additionally, mortgage rate improvement, thanks to last week’s latest mortgage rate drop, is now saving buyers purchasing a median-priced home $300 per month. What’s more, according to Realtor.com, buyers during this period could save an estimated $14,000 compared to the average home prices seen during the summer months.
To help buyers find homes this fall, Allen Tate is hosting our Big Open House Event, held September 28-29.
With the added value of our exclusive Buy & Borrow Bundle, homebuyers have the potential to maximize their savings while taking advantage of a wider selection of homes and reduced market competition. This unique combination provides Allen Tate agents with a powerful edge in the market, offering buyers more opportunities and better deals.
As you tour open houses, here are important items to think through:
Items to think about as you attend open houses
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Square footage preference
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How many bedrooms/bathrooms do you need?
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Do you need a bonus/flex space?
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Do you need a home office?
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What type of layout do you prefer? Open? Separate spaces? Etc.
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Lawn preferences, do you want a low-maintenance yard or are you okay with maintaining your yard?
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Do you want to buy in a neighborhood that has an HOA?
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What type of neighborhood amenities are you looking for?
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What closet space is preferred?
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How updated do you want the home to be?
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How close do you want to be to work/nearby conveniences?
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The average age of major appliances and systems
Attend an open house in your area with our Open House Event, this Saturday and Sunday!
