Home sellers made big gains in the first quarter, but, on average, they had to wait twice as long as pre-recession sellers making similar gains, according to a report released Thursday by ATTOM Data Solutions.
The U.S. Home Sales Report by ATTOM, a real estate analytics company based in Irvine, Calif., shows most first-quarter sellers made more than $44,000 over their purchase price, the best gain since the typical seller made $45,100 in the third quarter of 2007, on the eve of the Great Recession.
The difference was that sellers back then had owned their homes for an average of 4.4 years. Sellers in 2017's first quarter had owned them nearly eight years.
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