Saturday, May 9, 2020

Median Home Sales Prices in First Quarter 2020 Increase 11 Percent From Last Year, Reports ATTOM Data Solutions




IRVINE, CA — ATTOM Data Solutions, curator of the nation’s premier property database and first property data provider of Data-as-a-Service (DaaS), released its First-Quarter 2020 U.S. Home Sales Report.

The report shows home sellers nationwide realized a home price gain of $67,100 on the typical sale, up from $66,264 in the fourth quarter of 2019 and up from $59,000 in the first quarter of last year.

That $67,100 typical home-seller profit represented a 33.7 percent return on investment compared to the original purchase price, down from the post-recession high of 34.4 percent in the fourth quarter of 2019 but up from 32.8 percent a year ago.




At the same time, the median price for single-family homes and condominiums rose to a new high of $265,900 in the first quarter of 2020, up 2.9 percent quarterly and 11.3 percent year-over-year. The annual increase was the largest since the third quarter of 2013.

“The national housing market continued at full throttle in the first quarter of 2020, setting new price and profit records as it entered its ninth straight year of gains," said Todd Teta, chief product officer at ATTOM Data Solutions. 




"After it looked like things were settling down last year, the market has again roared ahead, with significant increases. It is extremely important to note that the latest momentum is likely to hit a wall and reverse because of the drastic economic slowdown caused by the Coronavirus pandemic.

"Millions of Americans are newly unemployed, and most people are practicing social distancing, which could bring things to a halt just as the Spring buying season begins. Despite that cloud, the numbers for Q1 still do remain upbeat.”

Among 108 metropolitan statistical areas with at least 1,000 single-family home and condo sales in the first quarter of 2020, those in western states continued to reap the highest returns on investment, with concentrations on or near the west coast.




Metro areas with the highest home seller ROIs were in San Jose, CA (81.8 percent); San Francisco, CA (67.7 percent); Seattle, WA (63.6 percent); Spokane, WA (61.8 percent) and Boise, ID (59.1 percent).

Boise and Milwaukee lead major metros in home price appreciation

The U.S. median home price increased annually 11.3 percent in the first quarter of 2020, hitting a new high of $265,900.



The annual home-price appreciation in the first quarter far surpassed the 2.8 percent annual gain in the first quarter of 2019 and the 7.6 annual gain the first quarter of 2018.

CONTACTS:

Christine Stricker
949.748.8428

Data and Report Licensing:
949.502.8313


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