This Is the City Where People Made the Most Selling Homes

By Douglas A. McIntyre Published Jan 27, 8:30AM EST

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This Is the City Where People Made the Most Selling Homes — © Robert_schafer_photography / Getty Images

Real estate prices have risen almost 20% over the past several months. According to the carefully followed S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index, in November home prices rose 18.8% compared to the same month a year ago. Among the top 20 markets, Phoenix had the largest increase at 32.2%.

The American residential real estate market may have had the best year on record in 2021. People who left large coastal cities like New York and San Francisco drove up prices in dozens of mid-sized cities inland. Historically low mortgage rates helped fuel the activity. Also, millions of people who began to work from home due to the COVID-19 pandemic will not return to offices.

People who sold their homes last year made remarkable amounts of money. According to the ATTOM Year-End 2021 U.S. Home Sales Report, the median price for houses sold nationwide was $94,092. That was up 45% from 2020, and it was a 45.3% return on investment compared to the original price of the home. That profit margin was the largest since 2008.
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Todd Teta, chief product officer at ATTOM, commented:

What a year 2021 was for home sellers and the housing market all around the U.S. Prices went through the roof, kicking profits and profit margins up at a pace not seen for at least a decade. All that happened as the virus pandemic raged on, which actually helped drive the increases instead of stifle them.

The study examined 173 metro areas in the United States with populations of over 200,000 people. These metros had the largest increase in investment returns:

Salisbury, Md. (267.2%)
Lafayette, La. (227.4%)
Montgomery, Ala. (195.4%)
Mobile, Ala. (179.9%)
Augusta, Ga. (167.7%)
Raleigh, N.C. (80.6%)
Oklahoma City, Okla. (64.4%)
Virginia Beach, Va. (62.6%)
Washington, D.C. (60.2%)
Chicago, Ill. (59.4%)

Click here to see the cities where buying a home is most expensive.
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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.