Americans who sold homes in 2018 reaped the biggest profit in 12 years according to the Year-end 2018 U.S. Home Sales Report from ATTOM Data Solutions. Home sellers realized an average home price gain since purchase of $61,000 - up from $50,000 in 2017 and $39,500 in 2016. Last year's average equity gains reached their highest level since 2006.
Lawrence Yun predicts solid market activity for this year, adding, "The longer-term growth potential is high…the forecast for home transactions has greatly improved.”
Though mortgage interest rates trended slightly upward in Freddie Mac's Primary Mortgage Market Survey for the week ending January 31, analysts note that the uptick is tempered by slowing home price appreciation and should not be a detriment to the spring home-buying season.
Source: Dan Krucek, Vice President of Residential Lending, Draper & Kramer Mortgage Corp., 400 Skokie Boulevard Suite 100, Northbrook, IL 60062, Office # 847-239-7811, Cell # 847-226-8293, email@example.com