Key Highlights

  • Western metro areas led the charge to the highest ROI in 2019.
  • South Bend IN and Boise City ID led major metros with populations of 200,000 in the charge to highest home price appreciation.
  • Home prices hit new peaks in 78% of 134 metros.
  • Home tenure hit a new high of 8.21 years.
  • All-cash deals represented 25.3% of all home transactions in 2019, the lowest share of all-cash deals since 2011-2012.

According to Todd Teta, ATTOM Data Solutions chief product officer, “The nation’s housing boom kept roaring along in 2019 as prices hit a new record, returning ever higher profits to home sellers and posing ever-greater challenges for buyers seeking bargains. In short, it was a great year to be a seller.”

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Here are some data points to keep in mind from ATTOM’s 2019 Year-End US Home Sales Report:

 Of the 220 metro areas ATTOM tracked with populations of 200,000+, Western states reaped the highest return on investment (ROI), particularly metros on or near the West Coast. Here are the highest seller ROIs:

  • San Jose – +82.8%
  • San Francisco – +72.8%
  • Seattle – +65.6%
  • Merced CA – +63.2%
  • Salem OR – +62.1%

South Bend IN and Boise ID, among 134 metro areas with populations of 200,000+, led major metros in terms of price appreciation

  • South Bend IN – +18.4%
  • Boise City ID – +12.6%
  • Spokane WA – +10.9%
  • Atlantic City NJ – +10.6%
  • Salt Lake City UT – +9.6%

Along with Salt Lake City, metros with populations of +1M and +8% annual home price increases in 2019 also included Grand Rapids MI with a home price appreciation of +8.9% and Columbus OH with appreciation of +8.3%.

Home prices hit new peaks in 78% or 105 of 134 metros. Included in that 78% of metros hitting new peaks in home prices in 2019 were Los Angeles, Dallas-Fort Worth, Houston, Washington DC, and Philadelphia.

Nationwide, home tenure year over year hit a record high of 8.21 years. Home tenure throughout Connecticut was the highest in the country including the towns/areas of…

  • Norwich CT – 13.49 years
  • New Haven CT – 13.32 years
  • Bridgeport-Stamford CT – 13.13 years
  • Torrington CT – 12.33 years
  • Hartford CT – 12.25 years

Home tenure year over year decreased in 42% metros (45 of 108) including Colorado Springs, Modesto CA, Visalia CA, Oklahoma City and Olympia WA.

All-cash purchases represented 25.3% of all home purchases in 2019. This is the lowest share of all-cash purchases since 2011-12 when all-cash buys hit its peak of 38.4% of all home purchases.   The largest share of all cash buys in 2019 occurred in

  • Macon GA – 51.1%
  • Naples FL – 50.4%
  • Chico CA – 47.9%
  • Montgomery AL – 44.7%
  • Fort Smith OK – 43.8%

Institutional investors represented just 2.9% of all buyers in 2019, down from 3.0% in 2018 to the lowest share of institutional investors since 2015. Though down, institutional investor activity was still active in these metros:

  • Atlanta – 9.5% of all transactions
  • Charlotte NC – 8.6% of all transactions
  • Lafayette LS – 8.4% of all transactions
  • Memphis TN – 8.3% of all transactions
  • Raleigh NC – 7.8% of all transactions

 

Distressed sales represented just 11.5% of all sales in 2019, the lowest share of distressed sales since 2006. The Northeast and Mid-Atlantic regions of the country had the most distressed sales:

  • New York – 20.1%
  • Connecticut – 19.5%
  • Washington DC – 19.4%
  • Maryland – 18.1%
  • Rhode Island – 17.6%

Metros with the highest share of distressed sales included…

  • Atlantic City – 26.9%
  • Columbus OH – 22.6%
  • Trenton NJ – 22.1%
  • Norwich CT – 21.6%
  • Peoria IL – 20.0%

Metros with the lowest share of distressed sales in 2019 included San Francisco and Salt Lake City and then

  • San Jose – 5.2%
  • Austin TX – 5.7%
  • Grand Rapids MI – 6.2%

Thanks to the staff with ATTOM Data Solutions for source data.

Also read: Home Prices Mostly Flat in October While Some States Saw Cool Down, Home Prices Rise Across Opportunity Zone Redevelopment Areas, The Most Affordable Neighborhoods in the Country