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“The second-quarter revenue report gives a combined bag of plusses and minuses that added as much as an general image of not a lot change for sellers,” ATTOM chief Rob Barber stated within the report. “Costs jumped again upward, which was nice information for house owners. So did uncooked income. Revenue margins additionally remained traditionally elevated.”
Nonetheless, Barber defined that the bottom-line profit-margin pattern didn’t transfer a lot in any respect as a result of the revenue good points didn’t maintain tempo with the fast enhance in house costs over the previous yr.
Geographically, revenue margins elevated quarterly in 58.8% of the 160 metropolitan statistical areas analyzed however remained down yearly in 62.5% of those metros. Greater-priced markets, the place house values principally topped $350,000, noticed essentially the most vital year-over-year softening of revenue margins.
Regardless of these developments, returns on funding for median-priced house gross sales in the course of the second quarter surpassed 50% in 66.3% of the metro areas analyzed. Whereas this represents a decline from the earlier yr, it stays considerably increased than ranges seen 5 years in the past.
Learn subsequent: US housing market suffers from “mortgage lock-in hole”
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