Pocketed $67,500 from their home’s sale
Homes may be appreciating more slowly than before, but homeowners are still rolling in the equity, realizing significant returns when they opt to sell.
On average, home sellers saw a 33.9% return on their investment in the second quarter of 2019. That translates to a $67,500 profit on their home’s sale, according to the latest report from ATTOM Data Solutions.
This is up from last quarter, when returns averaged 31%. It’s also $7,400 higher than last year.
The cities with the highest returns were in the West, and – no surprise – the top two were in California.
Among the metros analyzed in the report, this cities with the highest returns were San Jose, California (85%); San Francisco (71.6%); Seattle (65.6%); Salem, Oregon (62.3%); and Salt Lake City (60.7%).
Meanwhile, the share of cash sales decreased from last year.
All-cash deals comprised 25% of home sales in Q2, down from 27.7% the previous quarter and last year’s 26.9%.
The cities with the highest share of cash sales were Miami, Detroit and Birmingham, Alabama.