The last quarter of 2107 saw home seller profits increase to $54,000, up from $47,133 a year before. This translates to a 29.7 percent return on a homeowner’s investment compared to the original purchase price, the highest return since 2007.
Not surprisingly, West Coast home sellers – and California in particular – saw the greatest return lead by San Jose (90.9% ROI) followed by San Francisco (73.3%), Merced, CA (64.6%), Seattle (64.4%), and Santa Cruz, CA (59.8%).
Finally, homeowners are holding on to their properties longer than ever. The average tenure of homes sold in the Q4 of 2017 was 8.18 years; the longest tenure since records were first tracked in 2000.