According to ATTOM Data Solutions, the profit margins on U.S. homes were at 47%, the highest in a decade.
When it comes to the red-hot property market, sellers are continuing to see plenty of green, especially in North Texas, according to the latest edition of the Allmanac, a weekly analysis of real estate news from Allie Beth Allman & Associates.
Homeowners who sold their properties in the Dallas-Fort Worth area in the third quarter saw an average of nearly $113,000 in profit, surpassing the national average of around $100,000. According to ATTOM Data Solutions, the profit margins on U.S. homes were at 47%, the highest in a decade. DFW homeowners beat that with an average of just over 51%.
Nationwide, the largest home sale profits were in San Jose, California, at $515,000, and San Francisco at $388,000.
Austin led the way in Texas with an average profit of just over $192,000.
Home sales in DFW were down again in October, but prices remain at record levels. Area agents sold a little over 10,000 homes in October, according to several reports, including one from the Texas Real Estate Research Center at Texas A&M University.
Inventory remains low in North Texas and other parts of the country. From January through the end of October, DFW homes sales hit about 98,000, down approximately 1% from the same period last year.
Information provided by the Dallas News