Home Seller Profits Hit 10-Year High
Home sellers are experiencing their highest profits in a decade. That’s based on research by ATTOM Data Solutions, which also found people are staying in their homes longer.
ATTOM examined data from the second quarter of this year. It found the average tenure for a homeowner who sold was eight years, the longest since the company started tracking in 2000. Rising home prices have some people concerned that even if they sell and collect a nice profit they may not be able to find — or afford — another house.
Seller returns were highest in San Jose, California, averaging more than $56,000. In metro Phoenix, the average profit was more than $7,000. The average home seller price gain for metro Phoenix since purchase was $60,000.
ATTOM reported the median sales price for a home in the Valley was $235,000 in the second quarter while statewide it was $228,000.