Let me guess: your clients have been unsuccessful in today’s market trying to purchase a home. Low inventory and high competition, right?

With interest rates starting to come down, affordability should increase and – hopefully – some sellers will start to put their homes on the market!

But in the near term – like this week – there is a more immediate opportunity for your buyers in today’s market. In fact, this week is considered the best week of the year for your buyers to make an offer on a home. Why is that?

Optimal Buying Window: The Data Behind the Timing

Data aggregated by realtor.com highlights a compelling trend in the real estate market that occurs annually around the last week of September/first week of October. This year, this week, the trend in market dynamics peaks:

1. Increased Inventory Levels: This week historically records a slight increase in available home listings. As many sellers move to list their properties before the winter slowdown, inventory levels grow, providing more options for buyers.

2. Reduced Buyer Competition: Simultaneously, buyer activity tends to decrease during this period. Many potential homebuyers may start to pull back, settling into the school year, focusing back on career now that the summer is over, etc., thus reducing competition for homes.

This combination of increased inventory and decreased competition creates a great opportunity for your buyers, offering them a bit less pressure and a bit more leverage during negotiations.

Financial Advantages of Buying Now

According to realtor.com, purchasing a home during this specific week can lead to significant financial savings. On average, homes bought this year between September 29 and October 5 should sell for 3% lower than the same home during the past peak season. For your clients, this could translate into thousands of dollars in savings, depending on the home’s initial market value.

Interest Rates: Another Reason to Act Now

To add to the favorable conditions, interest rates have begun to show signs of decreasing. This potential for lower financing costs when combined with reduced home prices can make this week particularly advantageous for homebuyers. Encouraging clients who are ready and financially prepared to act quickly could help them lock in lower interest rates and better prices, optimizing their cost of ownership.

Communicating the Opportunity

When discussing this opportunity with clients, especially those who may be burnt out, hesitant, or on the fence, it’s crucial to communicate both the data and the implications clearly:

– Educate them about the market dynamics and how they are most favorable during this specific week.
– Highlight the financial benefits, including potential savings on the purchase price and possibly lower interest rates.
– Stress the lower competition, which can lead to more buyer-favorable negotiation process and possibly better terms.

Pick up the phone – now! – and give your clients a heads-up on this window of opportunity to potentially negotiate a better price and terms for their next home.

Peter Chabris
Lockbox: Crushing Commissions & Cashflow
CEO, The Chabris Group, Cincinnati
Keller Williams Seven Hills Realty