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Rainy Days and Mondays Don't Get Buyers DownRainy Days and Mondays Don't Get Buyers DownBryan PopePope
2015-09-24T05:00:00ZHousing

​Mondays ​generally get a bum rap, but the number crunchers at RealtyTrac​ say they're good for at least one thing: getting the best deal on a home.

The California-based housing data analyst looked at the 32 million single-family homes and condos sold nationally since 2000. They found, among other things, that buyers who closed on a Monday paid, on average, 2.3 percent below full estimated market value — the best of any weekday.

Thursday was found to be the worst day to close, which would've been nice to know a week ago before I scheduled my own upcoming closing. But I digress.

While we're on the subject of poor timing, it might also have ​been in my best interest to begin house-hunting last May during Texas' surprise monsoon season. RealtyTrac says rainy days — well, bad weather in general — can be a buyer's best friend. How many people have you seen out house-hunting in a rainstorm?

​Conventional wisdom among real estate agents says you can often score great deals in the fall and winter, when most buyers are staying put because of the new school year and approaching holidays. RealtyTrac's findings agree, showing that buyers generally found the best deals in October.

As if that wasn't specific enough, they singled out Oct. 8 as the absolute best day of the year to close on a home purchase. Buyers who closed on that day purchased 10.8 percent below the estimated market value.​ But that's nationally. Locally, Dallas-Fort Worth-Arlington wasn't too far off (Oct. 22), but Austin-Round Rock was several months earlier (July 17).

Now​​​ here's something to think about: The best day of the year to buy is Oct. 8, but the worst day of the week is a Thursday. Any guesses what day of the week Oct. 8 falls on this year?

Yep.

If you're closing on the purchase of a home the 8th of next month, let us know how that goes. ​​

2015-09-24T05:00:00Zhttps://www.recenter.tamu.edu/info/blog/?Item=4

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