According to a recent study by RealtyTrac, recent homeowners who opted to sell their homes during the third quarter of this year, saw an average gain of 17%. The profit percentage is the largest since the third quarter of 2007, and is equal to a numerical figure of $40,658 more than the homeowners originally paid for their properties.
These homeowners, on average, owned their homes for an about 6.72 years total before selling. "An increasing number of homeowners in 2015 have been cashing out the home equity they've gained during the housing recovery of the past three years," said Daren Blomquist, vice president at RealtyTrac.
Source: Mortgage News Daily