Interest rates, which do not follow seasonal patterns, were not included. The metrics analyzed include: 1) listing prices, 2) inventory levels, 3) new "fresh" listings, 4) time on market, 5) homebuyer demand ( views per property) and 6) price reductions. analyzed six supply and demand metrics at a national and metropolitan level that follow seasonal patterns, using data for 2018-2021 period (2020 data was omitted due to anomalies caused by the pandemic). During the best time to buy, a typical home is expected to remain on the market for two weeks more than during peak market pace in May and one week more than the average time spent on the market to date. More time to decide: Homes will stay on the market longer, giving buyers some breathing room to make purchase decisions. Historically, demand (as measured by views per property on ®) during the best week to buy has been 26.9% lower than its July peak and 8.5% lower than the average week of the year. Less competition: Fierce home buying competition has softened as mortgage rates rise. There could be 780,000 listings during the best week, 46% more than this year's average to date. More listings: Although active listing inventory isn't back to pre-pandemic levels, it has increased year over year and year to date. Nationally, this could translate into roughly 48,000 homes available at a decreased cost. As the market begins to stabilize after a frenzied couple of years, more than 6% of homes may have reduced prices during the best week in 2022. Reduced prices: Historically, an average of 5.2% of homes have price reductions during this period. The benefits of buying during the "best week" include: Less competition, as demand during the best week to buy is historically 26.9% lower than the yearly peak week and 8.5% lower than the average week the average week to dateĮxtra time to make buying decisions, with homes expected to stay on the market 15 days longer than during the summer's peak Savings of more than $20,000, on average, relative to the summer's peak price of $450,000Īpproximately 46% more homes to choose from vs. More than 6% of homes with reduced prices Those who buy during this week can expect: This early-fall period will offer buyers a host of favorable factors, including more housing listings, less competition, and lower prices. analyzed the numbers in its fourth annual Best Time to Buy Report and found the best time to buy a home across the nation is the week of Sept. 14, 2022 /PRNewswire/ - As children return to school and the weather begins to cool, the off-season is offering up opportunities for hopeful homebuyers. Despite rising interest rates, fall is the best season to buy for hopeful homebuyers when it comes to home prices, competition and inventory.