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Late summer homebuying brings peak discounts in parts of the US
Redfin says discounts off original asking prices, driven by price drops or negotiations, typically grow in late summer and peak in early fall, then plateau into winter.
Late August through early fall is emerging as the strongest window for homebuyers looking for discounts in multiple US metros, according to Redfin’s Home Economics and analysis of housing market data.
The analysis points to late August as the prime deal period in much of California, including Anaheim, Oakland, Sacramento, and San Jose, along with Austin, TX, Portland, OR, and two New York City suburbs, Nassau County and Newark, NJ. In metros such as Atlanta, Denver, and Seattle, Redfin found the best discounts tend to arrive in early September.
Redfin said discounts generally peak in early September and early fall depending on the market, with savings sweet spots in mid-September for buyers in Texas and Southern California, plus Baltimore, Jacksonville, FL, and Nashville, TN. For Houston, Las Vegas, San Francisco, and Washington, D.C., Redfin identified late September as the sweet spot.
The report also highlights that many of the places with a prime dealmaking window are buyer’s markets, where there are about twice as many sellers as buyers in markets like parts of Texas, Nashville, and Atlanta. Redfin economist Asad Khan said sellers who listed in spring or early summer and have not sold may be more open to price cuts or concessions as late summer ends and fall begins.