Home Sellers Making the Most Money Since 2007

If you’re wondering if it’s a good time to sell a house, look no further than the ATTOM Data Solutions report released last week. The company’s Q2 2017 U.S. Home Sales Report found that the average price gain for home sellers during the second quarter was $51,000, the highest number since the second quarter of 2007. If you recall, home prices were flying high a decade ago, so it looks as if we’re back in familiar territory, minus that pesky housing bubble. Back then, the average gain was $57,000. Hopefully that won’t surface for another decade, but there are renewed fears with home prices hitting new nominal highs across the country and putting a strain on affordability.

Some say a home is a terrible investment, but recent sellers managed a healthy 26% gain, on average, which sounds pretty good to me. That’s the highest it’s been since the third quarter of 2007, when it was 27%. Of course, it depends how ATTOM defines that gain. I checked out their methodology and they say the difference between the median sales price of homes in a given market from purchase to sale. If we drill down a bit further, it might not be as amazing as it looks. It costs a lot of money sell a home, though disruptors like Redfin Now are trying to change that.

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Tami L Barber

NMLS #1030737

(423) 943-9269

Encore Lending Group LLC

NMLS #1249911

206 Wesley St, Johnson City TN 37601

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The information contained in this site has been prepared by an independent third party and is distributed for educational purposes only. This is designed to give helpful tips on the mortgage process and is not intended to give legal advice. Information is considered reliable but not guaranteed. This is not a prequalification, preapproval, loan approval or commitment to lend.