U.S. HOME-SELLER PROFITS CONTINUE RISING AS HOME VALUES HIT NEW HIGHS IN THIRD QUARTER
IRVINE, Calif., Oct. 19, 2023 /PRNewswire/ -- ATTOM, a leading curator of land, property and real estate data, today released its third-quarter 2023 U.S. Home Sales Report, which shows that profit margins on median-priced single-family home and condo sales in the United States increased to 59 percent in the third quarter – the second straight quarterly increase following several declines.
- Gross profits on typical single-family home and condo sales across the country also went up during the third quarter of 2023.
- Both measures improved over the Summer as the supply of homes for sale in the U.S. remained historically low.
- But mortgage rates started increasing again in the third quarter, rising toward an average of 8 percent for 30-year fixed loan following a stable second quarter.
- Home prices tied or hit new highs during the third quarter of 2023 in 86, or 55 percent, of the 155 metro areas in the report.