House prices are appreciating and house sellers are thus realizing a significant return on their investment.
Those who sold their homes in the first quarter of 2019 made a 31.5% return, pocketing an average gain of $ 57,500, according to the latest report. ATTOM data solutions.
Although home sellers’ earnings are down from $ 60,000 in the fourth quarter of 2018, they are still up year over year, when price gains averaged 56,733 $, noted ATTOM.
According to the report, these are the areas with the highest returns from home sellers:
San José, California: 84.1%
San Francisco, California: 70.9%
Seattle, Washington: 63.1%
Modesto, California: 59.7%
Salt Lake City, Utah: 56.5%
Additionally, 59% of the 129 subways analyzed in the report saw median home prices rise above pre-recession peaks, with the five highest prices reported in Colorado and Texas (click to enlarge graph to the left).
ATOM data revealed that cash home sales accounted for 28% of all single-family home and condo sales in the first quarter, up slightly from 27.7% in the previous quarter, but down from to 28.9% observed a year ago.
At the same time, the share of sales made by institutional investors declined nationwide, falling to 1.8% in the first quarter from 3.7% in the previous quarter.
The regions with the highest share of sales from institutional investors in the first quarter were Columbia, South Carolina; Atlanta, Georgia; Charlotte, North Carolina; Memphis, Tennessee; and Las Vegas, Nevada.
“We’re starting to see home selling prices and profit margins going down for the country,” said Todd Teta, ATTOM director of products. “However, home prices are still above pre-recession peaks in 59% of local markets, and as the buying season begins to kick in, the next few months may provide even more answers to the question. find out if a lasso is actually around the market or if the recent trend is a temporary bump in the race.
