The amount of profit homes sellers made in 2021 reached its highest level since at least 2008, according to a new report. ATTOM’s Year-End 2021 U.S. Home Sales Report shows that home sellers nationwide saw profits of $94,092 on the typical sale. This is up 45 percent from $64,931 in 2020 and a whopping 71 percent from $55,000 just two years ago.
Seller profits climbed in more than 90 percent of housing markets in the U.S. and represented more than a 45 percent return on investment compared to the original purchase price.
Profit levels increased largely due to limited inventory benefitting sellers who often receive multiple offers on their listing. Experts warn that the rate at which profit levels increased last year is unlikely to be repeated in 2022 as declining affordability and the potential for mortgage rates to increase could hinder growth.
Today, conforming no-point 30-year fixed mortgage rates are averaging 3.0 percent and 15-year rates are near 2.25 percent.
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