Surprise AZ Homeowners who sold their homes during the first quarter of 2020 saw a good return on investment compared to the original purchase price, according to new numbers from ATTOM Data Solutions.
The typical home Sun City Grand home sale resulted in a price gain – which is an increase over the fourth quarter of 2019 and up from one year earlier. The numbers are evidence that the housing market was strengthening at the start of the year.
Todd Teta, ATTOM's chief product officer, says, though it's clear the market had some momentum, the impact of the coronavirus will likely cause it to stall.
“The national housing market continued at full throttle in the first quarter of 2020, setting new price and profit records as it entered its ninth straight year of gains,” Teta said. “It is extremely important to note that the latest momentum is likely to hit a wall and reverse because of the drastic economic slowdown caused by the coronavirus pandemic.”
Still, the fact that the housing market was gaining strength at the beginning of the year should help cushion the impact and help it fare better than other segments of the economy.