Home sellers made big gains in the first quarter, but, on average, they had to wait twice as long as pre-recession sellers making similar gains, according to a report released Thursday by ATTOM Data Solutions.
The U.S. Home Sales Report by ATTOM, a real estate analytics company based in Irvine, Calif., shows most first-quarter sellers made more than $44,000 over their purchase price, the best gain since the typical seller made $45,100 in the third quarter of 2007, on the eve of the Great Recession.
The difference was that sellers back then had owned their homes for an average of 4.4 years. Sellers in 2017's first quarter had owned them nearly eight years.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
