 |
| Todd Teta |
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 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
Data and Report Licensing:
949.502.8313
