Home sellers averaged $94,500 in 2Q21. Is this considered good or bad?
Here’s a good data hit from the ATTOM team on profits for some sellers. In general things have been good for sellers are home prices have risen consistently for years. This report goes into some detail about the sale profit trends.
What it doesn’t do is discuss the fact that sellers do typically have to buy a new home when they sell — and doing so must be at today’s higher purchase prices.
One thing worth noting is that the market is cooling a bit now (higher inventory from more sellers may give way to prices moderating in certain markets), and this Fall might finally be a good time for buyers to not experience such intense bidding wars in every market.
So buyers keep your focus as you move into the Fall and Winter. When the market has been hot for awhile, typically these are good times to finally land your dream home because sellers in certain markets will be more eager than they have in the past year.
Now here’s the current seller data from ATTOM…
ATTOM's Q2 2021 U.S. Home Sales Report shows that profit margins for home sellers took an unusual dip in the second quarter, but were still far above where were they were a year earlier. The typical single-family home and condo sale across the U.S. during the Q2 2021 generated a profit of $94,500, up from $90,000 in Q1 2021 and from $60,572 in Q2 2020.
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– Home sellers averaged $94,500 in 2Q21. Is this considered good or bad?