HOME-SELLING PROFITS DROP IN 2023 FOR FIRST TIME IN OVER A DECADE AMID MODEST PRICE GAINS
IRVINE, Calif., Jan. 25, 2024 /PRNewswire/ -- ATTOM, a leading curator of land, property and real estate data, today released its Year-End 2023 U.S. Home Sales Report, which shows that home sellers made a $121,000 profit on the typical sale in 2023, generating a 56.5 percent return on investment.
- That happened as the median nationwide home price rose at the smallest annual pace in more than a decade.
- "But the market definitely softened amid modest price gains that weren't enough to push profits up higher after a long run of improvements.
- The U.S. median home price increased 2.1 percent from 2022 to 2023, reaching another all-time annual high of $335,000.
- The full-year median home-price appreciation slowed down as interest rates rose in 2023 close to 8 percent for a 30-year mortgage.