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Home sellers receive highest returns since 2007, report says

San Francisco, San Jose and LA among metros with highest gains compared to purchase price
  • Metros featuring the highest average percentage gains were San Francisco at a 72 percent average gain and San Jose at a 60 percent average gain.
  • Boulder, Colorado had a 53 percent average gain and Prescott, Arizona had a 51 percent average gain. Los Angeles was at the bottom of the top five with a 48 percent average gain.
  • Almost 20 percent of markets featured year-over-year dips in March, including Washington D.C. at 7 percent and San Francisco with a 2 percent drop after 47 consecutive months of price increases.
  • Distressed sales increased quarter-over-quarter on the East Coast, from 17.2 to 18.2 percent share of all sales.

For the first time in 99 months, home sellers in March received $30,500 more than their original purchase price -- a 17 percent average gain and the highest level of return since December 2007 when the housing recession began, according to RealtyTrac's March and Q1 2016 Home Sales report. Senior Vice President of RealtyTrac Daren Blomquist said the report shows another milestone of a rebounding national real estate market. “Homeowners can now expect, in most markets, to actually sell for more than the original purchase price," he said. "That is a consistent expectation across the country." Metros featuring the highest average percentage gains -- based on gains versus purchase price rather than highest price -- were San Francisco at a 72 percent average gain and San Jose at a 60 percent average gain. Blomquist said those who sold a home in San Jose in March walked away with $312,000 more than what they originally paid on average, and In San Francisco, the average se...