Home Sellers Saw Record Profits In The Second Quarter

With inventory still low and no shortage of buyer demand, home sellers saw record profits in the second quarter of 2020. Realtor.com reported on recent data released from real estate information firm ATTOM Data Solutions indicating that nationally, home sellers showed a profit of around 36% over what they originally paid for their property. 

By using median purchase and resale prices for properties in 104 metropolitan areas with at least 1000 home and condo sales in the second quarter, ATTOM found that profit margins hit new records even as prices continued to climb. As mortgage rates continue to drop we are seeing even more buyers drawn into the market in hopes of taking advantage of the low interest rates. But with housing inventory remaining low and new construction scrambling to keep up, it's likely that sellers will continue to see these increased profit margins for a while.

If you've been thinking about selling your home or are curious about the current market, give us a call, we'd love to answer any questions you have!