U.S. HOME-SELLERS EXPERIENCE FURTHER DECLINE IN PROFITS IN Q1 2023
IRVINE, Calif., April 27, 2023 /PRNewswire/ -- ATTOM, a leading curator of land, property, and real estate data, today released its first-quarter 2023 U.S. Home Sales Report, which shows that profit margins on median-priced single-family home and condo sales across the United States decreased to 44.2 percent as home prices stayed flat or kept declining around most of the nation.
- The typical investment return nationwide did remain high in the first quarter – almost double where it stood four years ago.
- "Homeowners are starting to take a significant hit in the form of lost profits from the recent market slowdown.
- That's a striking reversal of what we saw for a decade," said Rob Barber, chief executive officer for ATTOM.
- "It is possible that the upcoming peak buying season of 2023 could lead to increased profits, owing to favorable mortgage rates and other factors.