“Real” Estate Investment
It seems that homeowners can again reasonably expect that investing in a home might be a real investment. While buying a home certainly isn’t a get-rich-quick-scheme, RealtyTrac said on Thursday that homeowners who sold their homes during the third quarter saw an average gain of 17 percent.
That percentage, the largest since the third quarter of 2007, translates into a dollar gain that averaged $40,658 over the initial purchase price of the property. Homeowners who sold in the third quarter had owned their home for an average of 6.72 years.