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California NewsUSA

Is December 26 the worst day to buy a house in California?

Welcome to the slowest day of the year for home buying.

My trusty spreadsheet looked at some curious housing search statistics from property tracker Attom, which counted closed transactions and median price patterns by day of the year between 2013 and 2022. Yes, we’re talking daily data on fences – less on public holidays. New Year’s Day, Independence Day, Veterans Day and Christmas.

This data shows us that December 26 is the slowest sales day of the year.

Boxing Day averaged 4,719 closings over 10 years, 62% lower than the average sales day in California with 12,270 closings over those 10 years. Obviously, sales are slow this time of year because who would want to score big deals amidst the challenges and joy of the holidays.

Oddly enough, those who closed deals that day paid an average price of $390,000, or 19% less than the California standard of $480,000 over 10 years. This price was on average $9,200 above the assessed value, a premium 56% lower than the typical markup of $20,700.

So it seems that post-Christmas bargains are also part of California housing.

Conversely, September 30 is the busiest day in a typical year. On that day, there are an average of 24,064 sales, which is 96% above average. The price comes to $468,000, just 2 percent below average, but with a premium of $25,900, or 25 percent above the statewide standard.

Consider that today marks the end of the third trimester. This creates pressure to close, particularly from lenders, in order to get the most business on the quarterly books. June 30, the end of the second quarter, is the second day in terms of sales volume.

California Daily Newspapers

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