Home Seller Profits Still Significant Despite Coronavirus Impact

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Posted To: MND NewsWire

Homeownership continued to be a significant builder of household wealth in the first quarter of this year. ATTOM Data Solutions said home sellers nationwide realized a home price gain of $67,100 on a typical sale during the quarter, up from $66,264 in the fourth quarter of 2019 and from $59,000 in the first quarter of 2019. The profit represented a return on investment (ROI) of 33.7 percent, an increase from 32.8 percent a year earlier but down from the post-recession high of 34.4 percent at the end of last year. ATTOM identified 108 metro areas with at least 1,000 sales of single-family houses and condos during the quarter and found the highest ROIs in the west. San Jose topped the list at 81.8 percent followed by San Francisco at 67.7 percent, Seattle, and Spokane at 63.6 and 61.8 percent…(read more)

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