Seller Profits Rise To 36 Percent In 2nd QTR 2020

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Real Estate

ATTOM Data Solutions, curator of the nation’s premier property database and first property data provider of Data-as-a-Service (DaaS), today released its second-quarter 2020 U.S. Home Sales Report, which shows that home sellers nationwide realized a gain of $75,971 on the typical sale, up from the $66,500 in the first quarter of 2020 and from $65,250 in the second quarter of last year. The latest figure, based on median purchase and resale prices, marked yet another peak level of raw profits in the United States since the housing market began recovering from the Great Recession in 2012.

The typical $75,971 home-sale profit represented a 36.3 percent return on investment compared to the original purchase price, up from 34.5 percent in the first quarter of 2020 and from 33.7 percent a year ago, to another post-Recession high.

The latest increases in profits and profit margins came as median home prices increased, year over year, in almost every market around the country with enough data to analyze. They rose by at least 5 percent in more than half the markets analyzed.

Prices and returns rose despite the economic damage caused by the worldwide Coronavirus pandemic, which has put millions of people out of work in the United States and remains a threat to the stability of the housing market.

More here.

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