According to ATTOM’s newly released 2022 Year-End U.S. Home Sales Report, home sellers nationwide realized a profit of $112,000 on the typical sale in 2022. That figure was up 21 percent from $92,500 in 2021 and 78 percent from $63,000 two years ago.
ATTOM’s latest home sales analysis reported that despite a market slowdown in the second half of last year, profits rose from 2021 to 2022 in 98 percent of housing markets analyzed; also marking the highest level in the U.S. since at least 2008.
Also according to the report, the $112,000 profit on median-priced home sales in 2022 represented a 51.4 percent return on investment compared to the original purchase price. That figure was up from 44.6 percent last year and 32.8 percent in 2020; also representing a high point since at least 2008.
The report also found that both raw profits and ROI have improved nationwide for 11 straight years, shooting up again in 2022 as the national median home price increased 10 percent to $330,000; another annual record.
ATTOM’s 2022 year-end report noted that among the 157 metro areas with a population greater than 200,000 and sufficient sales data, those in western and southern states reaped the highest returns on investment in 2022.
The report mentioned that the West and South regions had 14 of the 15 metro areas with the highest ROIs on typical home sales last year. Those metros were led by Hilo, HI (100 percent return on investment); Lake Havasu City-Kingman, AZ (88.4 percent); Spokane, WA (86.2 percent); Fort Myers, FL (85.4 percent) and Port St. Lucie, FL (84.8 percent).
The report also noted that home sellers in the U.S. who sold in Q4 2022 had owned their homes an average of 5.85 years, down from 5.96 years in Q3 2022 and 6.05 years in Q4 2021. According to the report, the latest figure represented the third-shortest average home-seller tenure since 2012. The report also noted that average seller tenures were down, year over year in 72 percent of metro areas analyzed.
According to the report, the biggest declines in average seller tenure from Q4 2021 to Q4 2022 were in Rockford, IL (down 23 percent); Atlantic City, NJ (down 22 percent); Dayton, OH (down 20 percent); Knoxville, TN (down 19 percent) and Salem, OR (down 18 percent).
The report stated the longest tenures for home sellers in Q4 2022 were in Bellingham, WA (9.87 years); Manchester, NH (8.58 years); Honolulu, HI (8.38 years); Bridgeport, CT (7.78 years) and New Haven, CT (7.57 years).
In this post, we dive deeper in the data behind the latest ATTOM home sales report to uncover the top 10 U.S. zip codes with the longest average homeownership tenures in Q4 2022. Among those zips with 50 or more home sales in Q4 2022, those with the longest home-seller tenures included: 96789 – Mililani, HI (10.6 years); 33027 – Hollywood, Fl (10.1 years); 33065 – Pompano Beach, Fl (10.0 years); 96707 – Kapolei, Hi (9.8 years); 33071 – Pompano Beach, Fl (9.6 years); 19401 – Norristown, PA (9.4 years); 19136 – Philadelphia, PA (9.4 years); 96706 – Ewa Beach, HI (9.4 years); 33321 – Fort Lauderdale, FL (9.4 years); and 19111 – Philadelphia, PA (9.3 years).
Want to learn more about home-seller tenure, seller gains and other home sale trends in your market? Contact us to find out how!
