The amount of profit home sellers made from the sale of their home was slightly higher during the second quarter than it was in the first, according to new numbers from ATTOM Data Solutions. Profit margins rose to 50 percent on the average sale, up from 48.9 percent during the first quarter. Rob Barber, ATTOM’s CEO, says homeowners continue to do well. “While profit margins aren’t going up significantly, they’re still sitting at pretty good levels,” Barber said. “The median home sale last quarter netted a 50 percent profit, whereas in the years right before the pandemic, the typical seller was netting around 30 percent.” In dollar amounts, today’s home seller nets $123,000 in raw profit on the typical sale – about $5,000 less than they did last year. But while profits have been getting smaller in most markets, they aren’t shrinking everywhere. In fact, profits were up almost 10 percent in St. Louis, Cincinnati, and Hartford. In Chicago, they’re up 10.3 percent and in Honolulu they’re almost 17 percent higher than year-before levels. (source)
