WRE News October 25, 2023
Buyer
Profit margins on median-priced single-family home and condo sales increased from 56.6% in the second quarter to 59% in the third quarter, according to data from ATTOM. This represented the second straight quarterly increase following several declines.
ATTOM also noted this increase occurred as the median nationwide home price shot up by 2% to a new high of $350,000. This uptick reverses a decline that took place from the middle of 2022 to the early part of 2023.
Gross profits on typical single-family home and condo sales across the country also went up during the third quarter by 5% quarterly, to $129,900, and were up 3.2% annually.
“Prices and profits around the U.S. got another boost over the summer as the housing market continued recovering from last year’s setbacks,” said Rob Barber, CEO for ATTOM. “Things do remain uncertain heading into the market’s annual Fall slowdown, especially at a time when mortgage rates are rising again, home affordability is getting tougher and the potential for a recession hangs in the air. But the latest gains fell in line with what we often see during the third quarter and showed that any predictions of an extended market fallback may have been premature.”
Stay up to date on the latest real estate trends.
Buyer
July 17, 2025
Over the past few years, affordability has been the biggest challenge for homebuyers.
Buyer
July 17, 2025
Buyer
July 17, 2025
Lifestyle
July 16, 2025
Designers are experts at designing bathrooms that are full of style and functionality alike.
Buyer
July 16, 2025
If recent home price headlines have you feeling worried, here’s some perspective.​​
Buyer
July 15, 2025
Buying your first home is a big milestone – and the right support is going to make it a whole lot easier.
We Guide Homeowners through the complicated process of selling their home using our 4 Phase Selling Process and 3 Prong Marketing Strategy that alleviates their stress and moves them effortlessly to their next destination. Schedule a 15 Minute Complimentary Strategy Session Today