Mortgage Industry News
« Return to Mortgage Industry News
Homeowner Profits Soared in Q3
Friday, October 23, 2020
The contribution made to household wealth by homeownership
is underlined in ATTOM Data Solutions' third-quarter U.S. Home Sales Report.
The company said that a typical homeowner who sold a home during the quarter had
a gain of $85,000. This was $10,000 more than that realized by sellers in the previous
quarter and up from $66,000 in the third quarter of 2019. This typical home-sale profit represented a 38.6 percent return on
investment (ROI) compared to the original purchase price. The typical ROI in
the previous quarter was 37.5 percent and it was 33.7 percent a year ago. The report says that both the raw-profit and return-on-investment figures were
the highest since the U.S. economy began recovering from the Great Recession in
2012. They represent a continued increase even as the Coronavirus pandemic has
damaged the economy and led to spikes in unemployment throughout the country
this year.
Read Full Article