Feature article
Profitable resales rise for the first time in two years
93.3% of property resales made a gross profit in Q4 2023, up from 92.4% in Q3
AI summary
According to CoreLogic's latest report, profitable property resales rose for the first time in two years in Q4 2023. The portion of properties resold for a profit increased to 93.3%, with the median gain climbing to $305,000, signalling the market trough has likely passed.
A key factor is the hold period, with profitable properties held for a median of 8.5 years, versus just 2.3 years for those sold at a loss. Houses continue to outperform apartments.
Hold period is on the rise
Pain and gain by property type
Profit and loss by owner type
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