While much of the country stands still, home sellers reap profits

Many home sellers these days are raking in profits, having gained, on average, a $75,971 profit on a typical sale in the second quarter of 2020. HousingWire’s Alex Roha credits a U.S home sales report from ATTOM Data Solutions, which reports these average gains are up from $65,250 in the first quarter.

“The latest quarterly figure represented another post-recession high – breaking the 34.5% ROI record in the first quarter, and the 33.7% home sellers saw this same time last year,” says Rohas. ATTOM also reports, “The housing market across the United States pulled something of a high-wire act in the second quarter, surging forward despite the encroaching economic headwinds resulting from the Coronavirus pandemic.”

It was reported that 81 of the 104 metropolitan areas the data analyzed experienced profit margin gain from the second quarter of 2019 to the second quarter of 2020. The largest annual gains were seen in Spokane, WA, Columbus, OH, St. Louis, Chattanooga, TN, and Indianapolis. Rochester, NY and Kansas City, MO, were also prominent in the report.

Source: Housingwire | ATTOM |  TBWS

Posted by Christa Cooper

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