It’s good to be a homeowner in the United States right now, especially if you want to sell your house.
Average home seller profits reached a 10-year high in 2017, according to ATTOM Data Solutions. Sellers in the fourth quarter of 2017 saw an average home price gain of $54,000 since they purchased their homes, representing an average gain of 29.7 percent.
Those returns on homeowner investments are at their highest level in 10 years, since the third quarter of 2007.
As often is the case with housing data in recent years, the West Coast saw the biggest spikes in seller profits. The highest average home seller return on investments were in San Jose (90.9 percent); San Francisco (73.3 percent); Merced, Calif. (64.6 percent); Seattle (64.4 percent); and Santa Cruz, Calif. (59.8 percent).
Sellers in the Washington area gained an average profit of $50,055 since they purchased their homes. While the Washington area is slightly behind national averages in terms of profit, it lags — at 16.1 percent — in terms of percentage.
In addition to looking at profitability, ATTOM reviewed price appreciation for 2017. While the U.S. median home price was $237,000, up 8.3 percent from 2016 to a record high, price appreciation was uneven.
In the Washington area, prices rose 2 percent in 2017, placing the region 45th out of 50 metro areas for price increases year over year.
Prices were up in several regions, not just the West Coast. The cities with the biggest price increases in 2017 include Ocala, Fla. (up 14.3 percent); Kansas City, Mo. (13.4 percent); San Jose (13.3 percent); Salem, Ore. (12.9 percent); and Nashville (up 12.5 percent).
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