The U.S. housing market is on a hot streak — and it may get even toastier for some home sellers in the next several weeks. Home prices tend to sell at a premium during May and June, providing a significant bump over a home’s estimated market value, new research shows.
Home sales that close in May fetch a premium of 13.4% compared with their estimated market value, according to an analysis of more than 40 million home sales over the past decade by real estate analytics firm ATTOM Data Solutions. Sellers in June enjoy the second-highest premium to estimated market value, at 11.7%.
By comparison, the smallest premiums occur in October and December, when sellers typically sell for 5.8% above estimated market value.
The findings come as home sellers have enjoyed a year of price gains thanks to an ultra-tight housing market that’s driving prices higher across much of the nation. Home prices in the 20 major metropolitan areas tracked by…