The third quarter saw a record high for median home prices in the U.S., according to a recent report from ATTOM Data Solutions. The median home prices shot up 8.3% from just one year ago and 2.9% from quarter two.
"Homeowners are also getting more profit than ever on the sale of their home," according to HousingWire.
"Homeowners who sold their home in the third quarter earned a median profit that ticked up to a post-recession high of 34.5%, up from 34.4% in the second quarter of 2019 and 34.3% in the third quarter of 2018, according to the report."
Those who are considering selling their homes are looking at making more profit on their homes because of the rise in median homes prices paired with the rise in equity, according to the report.
"The seven-year U.S. housing boom is back in high gear," said Todd Teta, ATTOM Data Solutions chief product officer, according to HW.
"After a series of relatively small price increase quarters, home prices saw quite the uptick, seller profits rose and the problem of distressed sales continued to fade, helping to make the third quarter the strongest in four years."
To learn more about the rise in median home prices for quarter three, click on the image above.