When the COVID-19 pandemic first hit, there were a lot of concerns about how it would impact the housing market—including whether it would spark a decrease in home values.
But, as it turns out, the opposite is true—and sellers are netting significantly more profit when they sell their home than anticipated.
According to a recent report from ATTOM Data Solutions, during Q2 of 2020, home sellers netted a median $75,491 when they sold their home—up from $65,620 from Q2 2019. Q2’s profit represents a 36.3 percent return on investment compared to original purchase price—the highest ROI for sellers since the Great Recession.
The Takeaway:
So, what does this mean for you? If you’re thinking about selling, now is a great time to make a move, fetch top dollar for your home, and walk away from the sale with a healthy profit.