It is no doubt a seller’s market but that doesn’t mean that there aren’t ways for homeowners to maximize their profits and take advantage of the seasonal demand increases in the housing market. According to an annual analysis of the best times of the year to sell a home, ATTOM Data Solutions reports that May and June is when sellers should make their move.
“As home sellers continue to enjoy an extended sellers’ market, the month of May is particularly poised to garner the greatest sale premiums,” said Todd Teta, ATTOM’s chief product officer. “Among the top five days fetching the biggest home seller premiums, May 23 is the best day of the year to sell a home, producing a premium of 19.3 percent above market value.”
Reviewing data from 40.1 million home sales from 2011 to 2020 the report shows that ten of the best days to sell a home fall in the month of May alone. Sellers realize their biggest profits – on average 13.4 percent above estimated market value.
Today, conforming no-point 30-year fixed mortgage rates are averaging 3.0 percent and 15-year rates are near 2.375 percent.
Do you have a question for Real Estate & Mortgage Analyst Mehran Aram? Submit your queries about a home purchase, refinance, or reverse mortgage via Aramco.biz, social media (#AramcoReport), or over the phone at (866) 381-8888 and your questions may be featured in an upcoming article.