DC area home sellers did well for themselves at the beginning of the year.
Sellers in the region saw average profits of $62,000 in the first quarter of 2019, a 6 percent increase year-over-year, according to the most recent report from ATTOM Data Solutions. Home sellers nationwide did not fare as well, with average gains of $57,500, just a one percent increase from a year earlier.
Seller gains in the DC region were at their peak in 2005, with profits of $171,000, and remained strong through 2007 before dropping off from 2008-2011.
The ATTOM report also measures the average homeownership tenure in the DC area. In the first quarter of the year, that tenure rose to 8.13 years, a 5.7 percent increase compared to the first quarter of 2018. This metric has steadily increased since 2000 and also exceeds the average homeownership tenure nationwide of 8.05 years.
The data for the report cited in this article is culled from recorded deeds, foreclosure filings and loan data.
This article originally published at https://dc.urbanturf.com/articles/blog/dc-area-home-sellers-saw-average-profits-of-62000-in-the-first-quarter/15308.
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