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
