Home sellers kept cashing in during third quarter

Home and condo sales profit margins reached nearly 50% in Q3, with typical home sales netting $123,100, slightly up from Q2 but down from last year. Median home prices rose 3% to $370,000. Profit margins have stabilized below 50% after peaking above 60% in 2022. Sellers held homes for an average of 8.39 years, the longest in 25 years. Highest margins were in San Jose and Seattle; lowest in Texas metros.