Profitable. It’s one of those terms that everyone loves hearing because it almost always means good news. Such is the case for the five housing markets on a list compiled by MarketWatch of the most profitable housing markets in America.
According to RealtyTrac, San Mateo, Calif. leads the way. Home sellers in this market saw a 65 percent difference between what they paid for their homes and what they sold them for in 2015. That 65 percent equals about $388,000 on average.
The main reason for such large profits can be attributed to the city’s location in Silicon Valley and its proximity to large company headquarters like Alphabet, Facebook, and Oracle. These two factors make San Mateo a popular area for tech executives and high-paid employees.
Including San Mateo, California has three of the top five spots on the list.