With average profits for home sales reaching a 13-year high of $65,500 in 2019, it was a great year for sellers, according to the 2019 U.S. Home Sales report by ATTOM Data Solutions. Compiled from data of recorded sales deeds across the country, the report compared the purchase price of homes with what they ended up selling for. Results showed that median home sales prices reached $258,000 in 2019, which in turn gavesellers an impressive 34% return.
There are a few market factors that contributed to this high ROI in 2019, according to Todd Teta, chief product officer, ATTOM Data Solutions:
- Increased wages across the country
- A strong national economy
- Continuous stock market gains
- Historically low mortgage interest rates
The cities with the highest home sale ROIs were all on the West Coast, as the demand for housing in tech-central hubs increased:
- San Jose, CA (82.8%)
- San Francisco (72.8%)
- Seattle (65.6%)
- Merced, CA (63.2%)
- Salem, OR (62.1%)
“The nation’s housing boom kept roaring along in 2019 as prices hit a new record, returning ever-higher profits to home sellers and posing ever-greater challenges for buyers seeking bargains. In short, it was a great year to be a seller,” Teta said. “But there were signs that the market was losing some steam last year, as profits and profit margins increased at the slowest pace since 2011.”
