Sellers aren’t making as much of a profit on home sales so far this year, according to a new report.
In the first quarter, the median raw profit on home sales fell 4 percent from the quarter before to $119,000, even as the national median home sales price remains at $355,000, analysis from data provider ATTOM Data found.
Sellers’ profit margin in the first quarter was 50.2 percent on the sale of single-family homes and condominiums, a 3.2 percentage-point drop from the quarter before. This figure is also 4.8 percentage points down year over year. However, in 60 percent of the metropolitan statistical areas ATTOM analyzed (those with at least 1,000 home sales in the first quarter), sellers realized a profit margin at or above 50 percent.
Profit margins fell quarter over quarter in 77 percent of the analyzed metro areas. Year over year, margins fell in 83 percent of those metros.
Here are the markets with the biggest quarterly increase in seller profit margins:
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