Are you looking to buy a home? If that’s the case, we’ve got some excellent news for you.

While the property market has had a fantastic year, much of the headlines have focused on the benefits for sellers. But what about today’s buyers? As a buyer, you’re probably dealing with bidding wars and evaluating low mortgage rates against price appreciation while looking for your perfect house. If you’re feeling down, take heart: there are hints that purchasers will have additional options this fall.

The sweet spot for buyers, according to realtor.com, is just around the corner. Experts looked at data from the previous several years in new research to assess housing market changes. Experts selected the best week to buy a house this year based on the current market. According to the study:

“Nationally, the best time to buy in 2021 is the week of October 3-9. This week historically has shown the best balance of market conditions that favor buyers.”

So, what does this imply for you? There’s a golden window of opportunity coming up if you’re seeking to buy a property. Here’s what you can look forward to during that week.

Increased Housing Supply

The number of available properties for sale should rise. More new properties are expected to hit the market the week of October 3, according to realtor.com. According to the statistics, there will be 17.6 percent more houses available than there were at the start of the year.

This means you’ll have more choices, which should be a welcome respite in a market where home availability is scarce.

Fewer Bidding Wars

With more properties on the market, the number of bidding battles should decrease slightly. Because there are more possibilities, buyers may not be as aggressive in their pursuit of available houses.

This implies you may have less competition when writing an offer and a higher chance of becoming the highest bidder. Just keep in mind that making a solid offer is still crucial.

Adjusted Homes Prices

As we near the end of the year, realtor.com predicts that this week will be one of the busiest for price reductions in 2021. In the past, an average of 7.0 percent of properties has had their prices reduced that week, according to the statistics. Why? When the property supply increases, sellers must find new methods to make their homes stand out.

While property prices are still rising generally, you may see some homes with price reductions from motivated sellers. Closing a property is a lengthy procedure. Sellers may be more motivated this October to close before the end of the year.

Bottom Line

Don’t give up if you’re looking for a home right now. Early October, according to data, may provide you with the long-awaited opportunity to locate the home of your dreams. Rely on a reputable real estate expert to help you stay motivated so you can find the ideal house. Let’s connect today so we can help you find your perfect home!