Pick right day to close on house and maybe save big

The holiday season is notoriously slow in the real estate market. But if you’re shopping for a house toward the end of the year, closing the day after Christmas could mean saving a couple thousand dollars on the price of the home, a new study shows.

A five-year analysis of single-family home and condominium sales showed Dec. 26 is the best day of the year to close on a home, according to Irvine, Calif.based property data firm Attom Data Solutions.

Spring and summer are typically the busiest homebuying seasons as families like to be settled before the school year begins. Those willing to shop for a house at the same time they’re buying stocking stuffers and booking holiday vacations will face less competition and likely have the upper hand in price negotiations as holiday sellers are typically more motivated, Attom senior vice president Daren Blomquist said.

“People closing on a home purchase Dec. 26 were submitting offers around Thanksgiving and starting their home search around Halloween — likely not a common path to home purchase for most buyers and exactly why it’s the best time to buy,” Blomquist said in a statement.

The analysis shows that 10 days of the year offer discounts below estimated market value — seven in December, and one each in October, November and February.