Early October is the Sweet Spot for Buyers

<article class="post-42358 post type-post status-publish format-standard has-post-thumbnail hentry" id="post-42358"><span class="entry-date">September 28, 2021</span><div class="entry-header center-block text-center"><h1 class="entry-title">Early October is the Sweet Spot for Buyers</h1><div class="shareBlock"><div class="shareTitle">Share</div><div class="shareIcons"><a aria-label="Twitter Share Link" class="twitter solid display-inline-block" data-tracking="Post,Social Post Link Clicked,Twitter" href="http://twitter.com/share?text=Early+October+is+the+Sweet+Spot+for+Buyers&amp;url=https%3A%2F%2Fgilliggroup.com%2Fblog%2Fearly-october-is-the-sweet-spot-for-buyers%2F" target="_blank"><span class="force-hidden">Twitter</span></a>
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<p><img alt="Early October is the Sweet Spot for Buyers | Simplifying The Market" class="webfeedsFeaturedVisual wp-post-image" decoding="async" link_thumbnail="" loading="lazy" sizes="auto, (max-width: 549px) 100vw, 549px" src="https://files.simplifyingthemarket.com/wp-content/uploads/2021/09/24114213/20210928-KCM-Share-549×300.jpg" srcset="https://files.simplifyingthemarket.com/wp-content/uploads/2021/09/24114213/20210928-KCM-Share-549×300.jpg 549w, https://files.simplifyingthemarket.com/wp-content/uploads/2021/09/24114213/20210928-KCM-Share.jpg 750w" style="display: block; margin-bottom: 5px; clear:both;max-width: 100%;" width="358"/></p>
<p>Are you looking to buy a home? If so, we’ve got good news for you.</p>
<p><span id="more-45220"></span></p>
<p>While there’s no denying the <a href="https://www.simplifyingthemarket.com/2021/09/02/5-reasons-todays-housing-market-is-anything-but-normal/?a=712984-fa409495d5d70154d03a25e81e9540e2">housing market</a> is having a great year, many of the headlines are focused on <a href="https://www.simplifyingthemarket.com/2021/09/17/have-you-ever-seen-a-housing-market-like-this-infographic/?a=712984-fa409495d5d70154d03a25e81e9540e2">the perks</a> for sellers. But what about buyers today? As a buyer, you’re likely braving bidding wars and weighing <a href="https://www.simplifyingthemarket.com/2021/09/23/two-reasons-why-waiting-a-year-to-buy-could-cost-you/?a=712984-fa409495d5d70154d03a25e81e9540e2">low mortgage rates</a> versus <a href="https://www.simplifyingthemarket.com/2021/08/11/are-houses-less-affordable-than-they-were-in-past-decades/?a=712984-fa409495d5d70154d03a25e81e9540e2">price appreciation</a> as you search for your dream home. If you find yourself a bit discouraged, hear this: there are clear signs buyers may have more opportunities this fall.</p>
<p>According to <a href="https://www.realtor.com/research/best-time-to-buy-2021/"><em>realtor.com</em></a><em>, </em>the sweet spot for buyers is just around the corner. In a recent study, experts analyzed housing market trends by looking at data from the past several years. When applied to the current market, experts determined the ideal week to buy a home this year. The research says:</p>
<blockquote>
<p>“<em>Nationally, <strong>the best time to buy in 2021 is the week of October 3-9</strong>. This week historically has shown the best balance of market conditions that favor buyers.”</em></p>
</blockquote>
<p>So, what’s that mean for you? If you’re looking to buy a home, there’s a golden window of opportunity coming. Here’s what you can expect from that week.</p>
<h4><strong>Increased Housing Supply </strong></h4>
<p>The number of homes available for sale should increase. According to <em>realtor.com</em>, you can expect to see more new listings come to market the week of October 3. The findings estimate we’ll see roughly <strong>17.6% more homes available </strong>than we saw at the start of the year.</p>
<p>This means you’ll have <a href="https://www.simplifyingthemarket.com/2021/09/16/is-the-number-of-homes-for-sale-finally-growing/?a=712984-fa409495d5d70154d03a25e81e9540e2">more options</a> to choose from which should be a welcome relief in a market with tight housing supply.</p>
<h4><strong>Fewer Bidding Wars</strong></h4>
<p>With more homes available, you should also see a slight decline in the number of bidding wars. Having more options means buyers may not be competing as intensely for the homes on the market because there are more choices to go around.</p>
<p><strong>This means when you </strong><a href="https://www.simplifyingthemarket.com/2021/09/15/5-tips-for-making-your-best-offer/?a=712984-fa409495d5d70154d03a25e81e9540e2"><strong>write an offer</strong></a><strong>, you may have less competition and a better chance of being the top bid.</strong> Just remember, it’s still important to come in with a strong offer.</p>
<h4><strong>Adjusted Homes Prices </strong></h4>
<p>As we move into the end of the year, the findings from <em>realtor.com</em> note this week may also be one of the peak weeks for price reductions in 2021. Historically the data shows an average of 7.0% of homes have a price reduction that week. Why? When housing supply ticks up, sellers need to look for other ways to make their house stand out.</p>
<p><strong>This means, while home </strong><a href="https://www.simplifyingthemarket.com/2021/09/09/home-price-appreciation-is-skyrocketing-in-2021-what-about-2022/?a=712984-fa409495d5d70154d03a25e81e9540e2"><strong>prices</strong></a><strong> are still appreciating overall, you may see some homes with price adjustments from eager sellers.</strong> The process of closing a house takes time. To close before end of year, sellers may be more motivated this October.</p>
<h3><strong>Bottom Line</strong></h3>
<p>If you’re in the market for a home, don’t lose steam now. Data shows early October may give you the long-awaited opportunity to find the home of your dreams. Let’s connect so you have a trusted ally and advisor to help keep you motivated so you can find the perfect home for you.</p>
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