said home sellers nationwide realized an average gain of $75,971 on sales — a 36.3% return on investment — up from a $66,500 profit, or 34.5%, in the first quarter of 2020 and from $65,250, or 33.7%, in the second quarter of last year.
"The housing market across the United States pulled something of a high-wire act in the second quarter, surging forward despite the encroaching economic headwinds resulting from the coronavirus pandemic," said Todd Teta, ATTOM Data Solutions chief product officer, in the report. "Profit margins hit new records as prices kept climbing, with few indications that the impact of the virus would topple the market," according to Teta.
"No doubt, a lot of the ongoing prosperity resulted from gains seen before the pandemic started racing through the country in February and March," he said. The second-quarter results showed continuing strength in most parts of the US, he said.
Wait until the balloon pops, a big reset is coming.
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