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Week of Sept. 10th-West Coast Home Sellers Cashing In the Most on Record Home Values

September 10, 2017

Holding onto your home for a long period of time over the last decade meant a serious return on investment, especially in some of the nation's hottest housing markets. According to a new Zillow® analysisiOakland, Calif. and Portland, Ore. top the list of cities where home sellers saw the greatest return.

In Oakland, the typical seller in 2016 sold their home for an average of $590,000 after living in it for just over seven years, which is 78 percent more than what they initially paid. In Portland, the typical 2016 seller sold for about $145,000 more than what they paid nine years earlier, a 65 percent gain.

Nationally, it's financially advantageous to buy a home rather than rent if you plan on living in it for at least two years and one month, but staying much longer than that has really paid off. U.S. homeowners who lived in their home for about 7 ½ years gained almost $40,000 on the sale of their home -- 24 percent more than what they initially paid. The link.



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