A new report from ATTOM shows that the profit-margins home sellers are seeing is currently at its highest level in over a decade. ATTOM’s 2021 U.S. Home Sales Report highlighted a 47.6 percent jump in profits on median-priced single-family home and condo sales this year.
“Prices and seller profits again hit new highs since the market started coming back from the Great Recession in 2012,” said Todd Teta, ATTOM’s chief product office. “There have a been a couple of small hints of a possible slowdown in recent months…but for now the market engine seems to have nothing but high-octane gas in the tank.”
The typical home sale in Q3 2021 generated a profit of $100,178 for sellers. This is up from $88,800 in Q2 and $69,000 in Q3 2020. The gains between Q2 and Q3 of this year are the biggest quarterly increases since 2014 and the largest annual increase since 2008.
Meanwhile, conforming no-point 30-year fixed mortgage rates are averaging 2.875 percent and 15-year rates are near 2.25 percent.
Do you have a question for Real Estate & Mortgage Analyst Mehran Aram? Submit your queries about a home purchase, refinance, or reverse mortgage via Aramco.biz, social media (#AramcoReport), or over the phone at (877) 700-0942 and your questions may be featured in an upcoming article.
