It may be odd to think of getting a discount on a home. It’s not as though they have flash sales or seasonal specials, like you might find in a department store or supermarket. But price cuts do happen, and that’s kind of like a discount. And they’re actually not all that difficult to predict — there are fairly regular patterns as to when price cuts occur.
Most notably, home sales actually do have something a bit like seasonal specials. Price cuts are most common between the months of July and September, which roughly corresponds to the latter half of summer. By contrast, price cuts are significantly less common during the winter. You probably won’t see a price cut within the first three to four weeks of listing, either. It’s possible to fine-tune your timing some more, though. Price cuts are rare during the weekends, particularly Saturday, and are less common on Friday than other weekdays. Nationwide, the top day for price cuts is Thursday, though it’s not that much different from Monday, Tuesday, or Wednesday, and it definitely varies by region. The question remains, how much of a discount can you actually get? Currently, around 3%, but it has varied between 2.6% and 3.8% in the past few years.
Photo by Claudio Schwarz on Unsplash
More: https://www.zillow.com/research/black-friday-price-cuts-31645/