SELLERS NET HIGHEST PROFIT IN A DECADE

Source: RealtyTrac/ATTOM Data Solutions

Home sellers in the second quarter of this year sold their properties for an average $51,000 more than they paid for them when they bought them. That’s the highest price gain for sellers since the second quarter of 2007, when it was $57,000, according to a new report by real estate data form ATTOM Data Solutions. This represents an average return on investment of 26 percent.

The report also shows that homeowners who sold in the second quarter had owned an average of 8.05 years, up from 7.85 years in the previous quarter and up from 7.59 years in Q2 2016 to the longest average homeownership tenure as far back as data is available, Q1 2000.

All-cash sales represented 28.9 percent of all single family and condo sales in Q2 2017, down from 31.3 percent of all sales in the first quarter, but up from 27.3 percent of all sales in Q2 2016 — the first annual increase in the share of cash sales since Q1 2013.

Out of 118 metro areas with at least 1,000 homes sales in the second quarter, ATTOM Data Solutions found that San Jose (75 percent), San Francisco (65 percent), Seattle (63 percent), Modesto (62 percent), and Denver (62 percent) had the highest percentage of sales in which sellers got top dollar.

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http://www.realtytrac.com/news/home-prices-and-sales/q2-2017-home-sales-report/