Profit for home sellers hits 12-year high

In a year defined by rising home prices, sellers fared well in 2018, according to a new report from Attom Data Solutions. Based on its analysis of public sales records across metro areas with at least 200,000 residents, the report estimated the average home seller earned a profit of $61,000 last year, or a 32.6 percent return on their initial investment.

This is the highest average profit recorded since 2006, and the fifth consecutive year of ROI increases for home sellers. Much of the growth in homeowner margins was attributed to strong home price appreciation.

The nationwide median home sales price hit a new high of $248,000 in 2018. A handful of the 127 metro areas analyzed saw even bigger profits, however. Some of the highest ROI gains were seen in high-priced California cities like San Jose (108.8 percent), San Francisco (78.6 percent), Merced (66.4 percent) and Santa Rosa (66.1 percent).

Seattle was also near the top of the list in terms of most value returned to home sellers last year, with an average ROI of 70.7 percent. Returns for those who wait Home price appreciation, and the profits they generate for sellers, tends to rise according to the laws of supply and demand.

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Article From: "Andrew Morrell"   Read full article

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