According to ATTOM’s Year-End 2023 U.S. Home Sales Report, home sellers made a $121k, profit on the typical sale in 2023, generating a 56.5% return on investment. However, as the report points out, even as both gross profits and profit margins remained near record levels, they decreased from 2022, marking the first declines in either category since 2011. ATTOM says the decline happened even as the median nationwide home price rose – albeit at its smallest annual pace in more than a decade.
“Last year certainly stood out as another very good year for home sellers across most of the United States. Typical profits of over $120,000 and margins close to 60 percent were still more than double where they stood just five years earlier…But the market definitely softened amid modest price gains that weren’t enough to push profits up higher after a long run of improvements…” Said Rob Barber, CEO of ATTOM.