According to the latest data, the first quarter of 2017 has been the best time to sell a home since 2007.
Homeowners who sold in the first three months of the year saw the highest average gains since the third quarter of 2007, per a report from ATTOM Data Solutions. Sellers saw an average gain nationwide of $44,000, a 24 percent return on their original investment.
The average seller had owned their property for just under 8 years, just slightly under from the record high set in the fourth quarter of 2016.
“The first quarter of 2017 was the most profitable time to be a home seller in nearly a decade, and yet homeowners are continuing to stay put in their homes longer before selling,” said Daren Blomquist, senior vice president with ATTOM Data Solutions told Chicago Agent Magazine. “This counterintuitive combination is in part the result of the low inventory of move-up homes available for current homeowners, while also perpetuating the scarcity of starter homes available for first-time homebuyers.”
Read more at Chicago Agent Magazine here.