The Best Day of the Year to Buy a House in Minneapolis is December 31
According to a study by RealtyTrac which appeared in a recent RISmedia article, the best day of the year to purchase a home in Minneapolis is December 31.
The article goes on to report that October is the best month nationwide to buy, followed by February, July, December and January. In approximately 75% of the U.S. real estate markets studied by RealtyTrac, their best buying days of the year occurred in autumn and through the winter months (October through March).
It makes sense that Twin Cities home buyers, as well has home buyers in the north central and northeastern United States, would find less competition and slower buyer activity in winter. That reduced activity stimulates a trend towards lower prices. As a result, sellers become more motivated during those winter months.
I suppose I could sum up with the tongue-in-cheek conclusion that any day of the year is a good time to buy in the Twin Cities. But realistically (and statistically), the results from the RealtyTrac study serve as good advice to prospective buyers in east central Minnesota that we are entering "prime time" in October for home buying opportunities in the Minneapolis and Saint Paul metropolitan area.