Home prices have reached their highest level in history in a number of markets. Much of this has been driven by people who have relocated from large cities during the pandemic. Many of the housing markets in America have seen a double-digit price increase compared to the same time in 2020. The trend has created a financial bonanza for sellers. This has been compounded by a low supply of homes, brought on because of the buying frenzy.
The premium people get for their homes varies by month. ATTOM Data Solutions, a major supplier of real estate analysis, looked at 40.1 million home sales from 2011 to 2020. It included those calendar days during this period when at least 10,000 homes were sold nationwide. Because of the length of the period, the information shows the trends in years when home prices rose sharply and some in which they did not.
To pick the months when sellers got the best premium on homes over the course of a year, ATTOM Data Solutions modeled the value of homes and compared them against what sellers actually received when they sold homes.
The month with the largest premium was May. Todd Teta, chief product officer with ATTOM Data Solutions commented: “As home sellers continue to enjoy an extended sellers’ market, moving full steam ahead from the momentum gained over the last ten years, the month of May is particularly poised to garner the greatest sale premiums.”
When the data were used to identify the best individual days to sell a home, five of the best days were in May, led by May 23, when the premium based on the ATTOM model, was 19.3% above market value.
These are the best months to sell a house:
|Month||Median Sales Price||Seller Premium|