Home sellers in the first three months of 2019 saw a solid return on their original purchase price, an average $57,500.
That represents a 31.5% average return according to ATTOM Data Solutions. The return is down from $60,000 in Q4 2018 but above the $56,733 of Q1 2018.
Sellers in Q1 2019 had lived in their homes for 8.05 years before selling, up from 7.75 years in Q1, 2018; and well above the average 4.21 years between Q1 2000 and Q3 2007.
"We are starting to see homes sales prices and profit margins softening for the nation, and the average homeownership tenure did see a slight dip from last quarter," said Todd Teta, chief product officer at ATTOM Data Solutions. "However, home prices are still above pre-recession peaks in 59% of local markets, and as the buying season starts to kick into gear, the next few months may provide even more answers to the question of whether a lasso is indeed around the market or if the recent trend is a temporary bump in the ride."
All cash sales lower year-over-year
ATTOM’s Q1 2019 US Home Sales Report also found that all-cash sales represented 28.0% of all single family and condo sales in Q1 2019, up from 27.7% of all sales in the previous quarter, but down from 28.9% of all sales in Q1 2018.
Total distressed sales — bank-owned (REO) sales, third-party foreclosure auction sales, and short sales — accounted for 14.2% of all single family and condo sales in Q1 2019, up from 12.9% in the previous quarter but down from 15.2% in Q1 2018.
Sales to FHA buyers (typically first-time homebuyers or other buyers with a low down payment) represented 10.9% of all U.S. single family and condo sales in Q1 2019, up from 10.8% of all sales in the previous quarter but down from 11.8% in Q1 2018 to the 8th consecutive quarter with annual decreases.
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