Where Sellers’ Profits Are the Highest

The pandemic has not dampened home appreciation. In fact, high buyer demand is prompting home prices to surge. In the third quarter, the average home sale generated a gain of $85,000, up from $66,000 a year ago, according to data from real estate research firm ATTOM Data Solutions. That $85,000 translates to a nearly 39% return on investment compared to the original purchase price.
“Home prices and seller profits across the nation continue racking up new highs as the housing market remains relatively immune from the economic havoc caused by the coronavirus pandemic,” says Todd Teta, chief product officer at ATTOM Data Solutions. “It’s almost as if the housing market and the overall economy are operating in different worlds.” Record-low mortgage rates and declining inventory are prompting strong home prices and returns for home sellers, Teta adds.
Continue… https://magazine.realtor/daily-news/2020/10/26/where-sellers-profits-are-the-highest