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The months of May, June, and July tend to offer home sellers the largest profits on their homes, with seller premiums of 10% or more above market value, according to new research from ATTOM Data Solutions based on an analysis of home sales and premiums over the past decade.
On the other hand, the slowest months for seller premiums tend to be in October, at 5.2%, and November, at 6.1%, the study shows.
Home prices this spring are surging, and homeowners are quickly accumulating more equity as a result. Some markets are faring better than others.
Researchers identified the following markets where home sellers tend to see the highest premiums above market value during the month of May:
- Evansville, Ind.-Ky.: 77.5%
- Terre Haute, Ind.: 75.2%
- Kill Devil Hills, N.C.: 68.6%
- Huntington, Ashland, W.Va.-Ky.-Ohio: 66.1%
- Dothan, Ala.: 61.1%
- Lafayette, La.: 58.3%
- Topeka, Kan.: 56.7%
- Albany, Ga.: 55.8%
- South Bend-Mishawaka, Ind.-Mich.: 54%
- Victoria, Texas: 51.9%
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