If you need assistance, please call 480-365-8346

Home Seller Profits Climb to a 13-Year High.

Thursday, January 23, 2020   /   by Juan Grimaldo

Home Seller Profits Climb to a 13-Year High.

Screen Shot 2020-01-23 at 2.10.53 PM.pngJanuary 23, 2020

Home sellers nationwide felt richer at resale in 2019. The average seller saw a home price gain of $65,500 on a typical sale, which is up from $58,100 the year prior, ATTOM Data Solutions reports in a new study. This marks the highest level since 2006.

That also represents a 34% average return on their investment compared to the original purchase price, which is also the highest average home seller ROI since 2006.

“The nation’s housing boom kept roaring along in 2019 as prices hit a new record, returning ever-higher profits to home sellers and posing even greater challenges for buyers seeking bargains,” says Todd Teta, chief product officer at ATTOM Data Solutions. “But there were signs that the market was losing some steam last year, as profits and profit margins increased at the slowest pace since 2011. While low mortgage rates are propping up prices, the declining progress suggests some uncertainty going into the 2020 buying season.”

Homeowners in western states continued to see the highest returns. ATTOM Data Solutions’ researchers found that the metros with the highest home seller ROIs were in the following areas:

San Jose, Calif.: 82.8%

San Francisco: 72.8%

Seattle: 65.6%

Merced, Calif.: 63.2%

Salem, Ore.: 62.1%

Meanwhile, overall home prices continued to rise in 2019. The biggest year-over-year increases in median home prices in 2019 were: South Bend, Ind. (up 18.4%); Boise City, Idaho (up 12.6%); Spokane, Wash. (up 10.9%); Atlantic City, N.J. (up 10.6%); and Salt Lake City (up 9.6%).

Keller Williams Realty Elite- The Grimaldo Group
Juan Grimaldo
2403 N Pebble Creek Pkwy #101
Goodyear, AZ 85395
480-365-8346

© 2020 Arizona Regional Multiple Listing Service, All rights reserved. The data relating to real estate for sale on this website comes in part from the Arizona Regional Multiple Listing Service. Real estate listings held by brokerage firms other than Juan Grimaldo - Keller Williams Realty Professional Partners - The Grimaldo Group (WINBACK) are marked with the Arizona Regional Multiple Listing Service logo and detailed information about them includes the name of the listing brokers. All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor Arizona Regional Multiple Listing Service shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. November 23, 2020
This site powered by CINC: www.cincpro.com