{"id":19227,"date":"2021-08-04T11:54:21","date_gmt":"2021-08-04T11:54:21","guid":{"rendered":"http:\/\/www.anthonydidonato.net\/wordpress\/?p=19227"},"modified":"2021-08-04T11:54:32","modified_gmt":"2021-08-04T11:54:32","slug":"home-seller-profits","status":"publish","type":"post","link":"https:\/\/www.anthonydidonato.net\/wordpress\/home-seller-profits\/","title":{"rendered":"Home Seller Profits"},"content":{"rendered":"

Home Seller Profits<\/h1>\n

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Profit margins for home sellers took an unexpected dip in the second quarter, but they continue to significantly exceed levels from a year ago. The dip may be a sign that investment returns may be declining, according to ATTOM Data Solutions\u2019 second-quarter 2021 U.S. Home Sales Report.<\/p>\n

In the second quarter, the typical single-family and condo sale in the U.S. posted an average profit of $94,500. That was up from $90,000 in the first quarter and $60,575 from the second quarter of 2020. But the profit margin\u2014the return on investment that sellers made on their original purchase price\u2014declined from 48.4% in the first quarter of this year to 44.9% in the second quarter, ATTOM Data Solutions reports.<\/p>\n

That drop marked a \u201crare decline during a time of year that usually produces some of the best returns for sellers,\u201d the report says. \u201cThe last time typical returns on investment dropped nationally during any second-quarter period was in 2008.\u201d<\/p>\n

Also unexpected, the drop in profit gains comes as the national median home price surged to another record in the second quarter of $305,000, ATTOM Data Solutions reports, up 22% compared to a year earlier.<\/p>\n

\u201cStill, profits dropped in the second quarter of this year because price gains\u2014high as they were\u2014were smaller than increases that recent sellers had been paying when they originally bought their homes,\u201d the report notes. \u201cThe gap between the latest price gains and earlier increases caused the dip in profit margins.\u201d<\/p>\n

Profit margins dropped year over year in 37 of 195 metro areas analyzed but declined quarterly in 86\u2014or 44%–of the metros, the report notes. The largest annual decreases were in San Jose, Calif. (margin down from 85.6% in the second quarter of 2020 to 67.4% in the second quarter of 2021), followed by Las Vegas (down from 45.8% to 30.5%); Kansas City, Mo. (down from 41.4% to 26.5%); Myrtle Beach, S.C. (down from 26.6% to 11.7%); and Los Angeles (down from 55.7% to 41.3%).<\/p>\n

\u201cPrices and profits from the second quarter painted yet another picture of a housing market in high gear\u2014except for one thing,\u201d said Todd Teta, chief product officer at ATTOM. \u201cProfit margins dropped in the second quarter, which is very unusual for any springtime period because that\u2019s when the housing market is usually hottest or close to it. While it may just be a momentary thing in today\u2019s volatile market, it\u2019s definitely something to keep an eye on in case it\u2019s a sign that the market is finally cooling or giving in to some of the economic forces connected to the virus pandemic.\u201d<\/p>\n

In the second quarter, the largest annual increases in profit margins occurred in Boise City, Idaho (up from 59.6% in the second quarter of 2020 to 124.3% in the second quarter of 2021), followed by Charlottesville, Va. (up from 202.% to 83.6%), Scranton, Pa. (up from 34.9% to 80.9%), Claremont-Lebanon, N.H. (up from 18% to 57.3%), and Bellingham, Wash. (up from 60.8% to 98%).<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

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Source:<\/div>\n
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\u201cU.S. Home Sale Profits Remain High But Take Unusual Fall in Second Quarter<\/a>,\u201d ATTOM Data Solutions (July 29, 2021)<\/div>\n
\u00a9National Association of REALTORS\u00ae
\nReprinted with permission<\/span><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Home Seller Profits   Profit margins for home sellers took an unexpected dip in the second quarter, but they continue to significantly exceed levels from a year ago. The dip may be a sign that investment returns may be declining, according to ATTOM Data Solutions\u2019 second-quarter 2021 U.S. Home Sales Report. In the second quarter, … <\/p>\n

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