ATTOM Data Solutions Finds Median Home Sale Prices Hit an All-Time High at $248,000 in 2018; Homeowners Staying Put Longer as Average Homeownership Tenure Rises to New High

Todd Teta

IRVINE, CA –— ATTOM Data Solutions, curator of the nation’s premier property database, released its Year-End 2018 U.S. Home Sales Report, which shows that home sellers in 2018 realized an average home price gain since purchase of $61,000, up from $50,000 last year and up from $39,500 two years ago in 2016 to the highest level since 2006 — a 12-year high.

That $61,000 average home seller profit represented an average 32.6 percent return on investment compared to the original purchase price, up from 27.0 percent last year and up from 21.9 percent in 2016 to the highest average home seller ROI since 2006.

“While 2018 was the most profitable time to sell a home in more than 12 years, those along the coasts, reaped the most gains," said Todd Teta, chief product officer at ATTOM Data Solutions. "However, those are the same areas where homeowners are staying put longer.

Matthew Gardner

“The economy is still going strong and home loan rates remain historically low. But there are potential clouds on the horizon.

"The effects of last year’s tax cuts are wearing off as limits on homeowner tax deductions are in place and mortgage rates are ticking up ever so slowly, so this could dampen the potential for home price gains in 2019.”

Among 217 metropolitan statistical areas with a population greater than 200,000 and sufficient historical data, the highest returns on investment were almost exclusively in western states, with concentrations along areas of the west coast.

 Those with the highest average home seller ROI were San Jose, California (108.8 percent); San Francisco, California (78.6 percent); Seattle, Washington (70.7 percent); Merced, California (66.4 percent); and Santa Rosa, California (66.1 percent).

“Home price growth in the Seattle area has started to soften, something that home buyers have been waiting for, and a trend that we can expect to continue in the coming year,” said Matthew Gardner, chief economist at Windermere Real Estate, covering the Seattle market.

“Seattle is still benefitting from buyers moving here from more expensive markets, such as California, but the market cannot solely depend on this demographic. My forecast for 2019 is that it will be a year of movement back to balance, which is a very positive thing.”

For a complete report, please contact:

Christine Stricker

949.748.8428

christine.stricker@attomdata.com

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