For homebuyers in Los Angeles, Houston, and Minneapolis, the week of Oct. 27 to Nov. 2 marks an unexpected golden window to land a new home at potentially favorable terms. These three major U.S. cities—each with its own unique allure and real estate challenges—are experiencing a seasonal market lull, offering a rare break for buyers facing historically high prices.
As of late October, home prices in these cities have cooled, presenting a promising moment for prospective homeowners to negotiate and secure property without the fierce competition often seen during peak buying seasons. Nationally, this seasonal lull typically arrives earlier in the year, around the first week of October, when home prices drop an average of $14,000. However, for Los Angeles, Houston, and Minneapolis, this dip arrives slightly later, making now the optimal time for budget-conscious buyers to take advantage.
Why This Week Matters
This week is particularly ideal for buyers in these markets because housing stock is high, buyer demand has tapered, and price reductions are becoming more common. As Hannah Jones, a senior economic research analyst, points out, “Late-fall buyers can take advantage of both lower prices and ample inventory before the market settles into its winter slumber.”