Home Sellers profits

Many Americans still can’t afford to buy a home as prices remain elevated and rates cool slowly, but sellers are already experiencing the unavoidable next step of price declines: falling profits. Profits on home sales fell last year for the first time since 2011 despite price gains, according to new data from ATTOM. Home sellers made a $121,000 profit on the typical sale in 2023, a 56.5% return on investment. This is a historically strong number – more than double what it was five years ago – but both gross profits and profit margins were down from 2022. At the same time, the national median home price increased at the slowest pace in 12 years. ATTOM noted that the data…