Home seller profits rise to highest since at least 2008!
Home sellers across the country realized a median profit of $94,092 on the typical sale in 2021, according to Attom Data Solutions.
That’s up 45% from 2020 and 71% from two years ago as rapidly rising prices continued to provide a big boon to sellers nationwide. The national median home price rose 16.9% in 2021 to $301,000, another record high.
Last year’s typical profit marked the highest since at least 2008, and profits rose in more than 90% of markets with enough data for Attom to evaluate.
Moreover, that median profit figure equated to a return on investment (ROI) of 45.3% compared to the property’s original purchase price, the largest year over year jump since 2013. The increase was up from 33.6% last year and from 30.6% in 2019, pushing profit margins to their highest since at least 2008. Both nationwide raw profits and ROI have now increased for 10 straight years.
The West again saw the highest returns on investment, with 16 of the 20 metros with the highest ROIs in the country situated in the region. Those cities included Boise (121% ROI); Spokane, Washington (86.5%); Bremerton, Washington (82.7%); Prescott, Arizona (81.2%); and Salem, Oregon (81.2%). By Arnie Aurellano, Scotsman Guide.