• October 02, 2017
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  • In Category : Blog

Staying in a home longer can net a serious return on investment, especially in some of the nation’s hottest housing markets. That finding comes courtesy of a new Zillow analysis, which shows that U.S. homeowners who lived in their homes for about seven and a half years gained almost $40,000—or almost 24 percent—more than they originally paid upon selling their properties in 2016.

“The housing market can change a lot in 10 years, and you see that reflected in this top 10 list,” says Dr. Svenja Gudell, Zillow’s chief economist. “Buying a home is one of the biggest financial decisions people will make in their lifetime, and it really paid off for sellers in these cities. Every city on this list has been growing extremely fast over the past decade, with the majority passing peak home value hit during the housing bubble. It’s extremely difficult to time the market, but if you’re a longtime homeowner in one of these cities, you could potentially see a great return on your investment.”

Among Zillow’s top 10 list, three cities have home values growing in the double-digits. In Seattle, home values rose 15.5 percent year-over year, the fastest growing among the list, followed by Boston and Sacramento, Calif. In Los Angeles, those who remained in their properties for nine years and eight months saw a $200,000—or 53.7 percent—increase.