Homeowners who sold during the third quarter of 2015 made a nice profit on their investment, reports RealtyTrac in its September and Q3 2015 U.S. Homes Sales Report that was released today.
According to the report, homeowners who sold during the third quarter realized an average price gain of $40,658 (17 percent) from the purchase price of their property, the highest average price gain for home sellers since the third quarter of 2007. Also, home sellers in the third quarter, on average, had owned their home for 6.72 years when they sold.
Here's more from RealtyTrac:
“An increasing number of homeowners in 2015 have been cashing out the home equity they’ve gained during the housing recovery of the past three years,” said Daren Blomquist, vice president at RealtyTrac. “That may be a good decision because the data points to a plateauing market going forward. Home price appreciation is slowing, a trend that will continue if interest rates rise in the coming months as expected. Meanwhile the threat of rising interest rates combined with lowered premiums for buyers using FHA loans is spurring more demand.”