Homes may be appreciating more slowly than before, but homeowners are still rolling in the equity, realizing significant returns when they opt to sell.
On average, home sellers saw a 33.9% return on their investment in the second quarter of 2019. That translates to a $67,500 profit on their home’s sale, according to the latest report from ATTOM Data Solutions.
This is up from last quarter, when returns averaged 31%. It’s also $7,400 higher than last year.
The cities with the highest returns were in the West, and – no surprise – the top two were in California.
Among the metros analyzed in the report, this cities with the highest returns were San Jose, California (85%); San Francisco (71.6%); Seattle (65.6%); Salem, Oregon (62.3%); and Salt Lake City (60.7%).
Meanwhile, the share of cash sales decreased from last year.
All-cash deals comprised 25% of home sales in Q2, down from 27.7% the previous quarter and last year’s 26.9%.
The cities with the highest share of cash sales were Miami, Detroit and Birmingham, Alabama.