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Home Seller Profits Still Significant Despite Coronavirus Impact
Friday, May 1, 2020
Homeownership continued to be a significant builder of
household wealth in the first quarter of this year. ATTOM Data Solutions said home
sellers nationwide realized a home price gain of $67,100 on a typical sale
during the quarter, up from $66,264 in the fourth quarter of 2019 and from
$59,000 in the first quarter of 2019. The profit represented a return on
investment (ROI) of 33.7 percent, an increase from 32.8 percent a year earlier
but down from the post-recession high of 34.4 percent at the end of last year. ATTOM identified 108 metro areas with at least 1,000
sales of single-family houses and condos during the quarter and found the
highest ROIs in the west. San Jose topped the list at 81.8 percent followed by
San Francisco at 67.7 percent, Seattle, and Spokane at 63.6 and 61.8 percent
respectively, and Boise at 59.1 percent.
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