Technology

HOME FLIPPING ACTIVITY AND PROFITS BOTH RISE ACROSS U.S. IN FIRST QUARTER OF 2024

Published

2 years ago

June 20, 2024

Flipping Rate Increases for Second Quarter in a Row While Profit Rebound Continues; Investment Returns Still Low but Reach 30 Percent Nationwide for First Time in Over a Year; Raw Flipping Profits Also Hit High Point Since 2022

IRVINE, Calif., June 20, 2024 /PRNewswire/ — ATTOM, a leading curator of land, property and real estate data, today released its first-quarter 2024 U.S. Home Flipping Report showing that 67,817 single-family homes and condominiums in the United States were flipped in the first quarter. Those transactions represented 8.7 percent, or one of every 12 home sales nationwide, during the months running from January through March of 2024.

The latest portion was up from 7.7 percent of all home sales in the U.S. during the fourth quarter of 2023 – the second straight quarterly gain. While the portion was still down from 9.8 percent in the first quarter of last year.

As flipping rates went up, fortunes kept improving for investors who buy and quickly resell homes. The latest data showed that home flippers typically earned a 30.2 percent gross profit nationwide before expenses on homes sold during the first quarter of this year, marking the third time in four quarters that margins increased following a six-year period of mostly uninterrupted declines.

The typical first-quarter profit margin – based on the difference between the median purchase and median resale price for home flips – remained about 25 percentage points below peaks hit in 2016. It also stayed withing a range that could easily be wiped out by carrying costs that include renovation expenses, mortgage payments and property taxes.

But it was up from both the fourth quarter of 2023 and from a low point over the past decade of about 25 percent in the first quarter of last year.

Gross profits on typical flips around the country, meanwhile, increased to $72,375. That remained down from a high of about $80,000 reached in 2022. But it was up from $65,000 in the fourth quarter of 2023 and was about $10,000 above last year’s low point.

“The latest numbers show that investors still face an uphill climb to clear significant profits after expenses,” said Rob Barber, CEO for ATTOM. They, like others, also face tenuous times amid a housing market boom that’s cooled down over the past year. But we now have a year’s worth of a trend showing that things have started to turn around for the flipping industry, with clear signs of increasing interest flowing into the market.”

The continued improvements in profits and profit margins over the past year reflect a rejuvenated pattern of investors benefitting from shifts in prices going in their favor between the time of purchase to resale.

In the first quarter of 2024, the typical nationwide resale price on flipped homes increased to $312,375, a 4.1 percent improvement over the fourth quarter of 2023. The increase outpaced the 2.1 percent rise in median prices that recent home flippers were commonly seeing when they were buying their properties. Similar gaps appeared annually as well, leading to the quarterly and yearly improvement in investment returns.

Home flipping rates turn upward in almost 80 percent of nation
Home flips as a portion of all home sales increased from the fourth quarter of 2023 to the first quarter of 2024 in 134 of the 173 metropolitan statistical areas around the U.S. with enough data to analyze (77.5 percent). Most of the declines were by less than two percentage points. (Metro areas were included if they had a population of 200,000 or more and at least 50 home flips in the first quarter of 2024 and sufficient data.)

Among those metros, the largest flipping rates during the first quarter of 2024 were in Warner Robins, GA (flips comprised 18.7 percent of all home sales); Macon, GA (17.1 percent); Fayetteville, NC (15.8 percent); Atlanta, GA (14.7 percent) and Memphis, TN (14.6 percent).

Q1 2024 U.S. Home Flipping Historical Trends

Aside from Atlanta and Memphis, the highest flipping rates among metro areas with a population of more than 1 million were in Columbus, OH (12.8 percent); Birmingham, AL (12.7 percent) and Kansas City, MO (12.1 percent).

The smallest home-flipping rates among metro areas analyzed in the first quarter were in Honolulu, HI (3.7 percent); Oxnard, CA (5.3 percent); Naples, FL (5.4 percent); Des Moines, IA (5.5 percent) and Seattle, WA (5.5 percent).

Typical home flipping returns rise in slightly more than half of U.S.
The median $312,375 resale price of homes flipped nationwide in the first quarter of 2024 generated a gross profit of $72,375 above the median investor purchase price of $240,000. That resulted in a typical 30.2 percent profit margin in the first quarter of 2024, up from 27.7 percent in the fourth quarter of 2023 and 25.3 percent in the first quarter of last year. But the latest nationwide figure still remained far beneath the 56.3 percent level in mid-2016 and from a more recent peak of 48.8 in 2020.

Profit margins went up from the fourth quarter of last year to the first quarter of this year in 89 of the 173 metro areas analyzed (51.4 percent) and were up annually in 111 of those markets, or 64.2 percent.

The biggest year-over-year increases in the typical profit margins during the first quarter came in Reading, PA (ROI up from 56.7 percent in the first quarter of 2023 to 124.9 percent in the first quarter of 2024); Trenton, NJ (up from 22.7 percent to 64.2 percent); Harrisburg, PA (up from 73.6 percent to 113.6 percent); Lynchburg, VA (up from 49 percent to 87.5 percent) and Columbus, GA (up from 41.8 percent to 80.1 percent).

Markets with the largest returns on investment for typical home flips completed during the first quarter of 2024 were concentrated in lower-priced areas of the Northeast, led by Buffalo, NY (127.8 percent return); Reading, PA (124.9 percent); Pittsburgh, PA (120.6 percent); Scranton, PA (115.7 percent) and Harrisburg, PA (113.6 percent).

Metro areas with a population of at least 1 million and the weakest returns on typical home flips in the first quarter of 2024 were Austin, TX (0.3 percent); Honolulu, HI (1.7 percent); San Antonio, TX (2 percent); Dallas, TX (5.3 percent) and Houston, TX (8.4 percent)

Q1 2024 Home Flipping Profit Trends Historical Chart

Investors earn highest raw profits in more expensive areas of West, South and Northeast
The largest raw profits on median-priced home flips in the first quarter of 2024, measured in dollars, were concentrated in areas of the West, South and Northeast regions where resale prices mostly topped $400,000. Fifteen of the top 20 fell into that category, led by San Jose, CA (typical gross profit of $297,500 on a median resale value of $1.6 million); San Francisco, CA ($280,000 profit on a median resale value of $1.1 million); San Diego, CA ($190,750 profit on a median resale value of $926,500); Bridgeport, CT, ($175,000 profit on a median resale value of $500,000 million) and Oxnard, CA ($162,000 profit on a median resale value of $929,500).

The South also dominated the opposite end of the range, with 16 of the 20 worst raw profits on median-priced transactions during the first quarter, although resale price ranges were mixed. The weakest numbers were in Jackson, MS ($3,873 loss on a median resale value of $185,560); Killeen, TX ($1,209 loss on a median resale value of $208,750); Austin, TX ($1,178 profit on a median resale value of $427,725); San Antonio, TX ($5,144 profit on a median resale value of $258,259) and Honolulu HI ($10,092 profit on a median resale value of $597,567).

All-cash investing by home flippers holds steady
Nationwide, 63.8 percent of homes flipped in the first quarter of 2024 had been purchased by investors with cash. That was virtually the same as the 63.7 percent level in the fourth quarter of 2023, although still down from 65.4 percent portion in the first quarter of 2023. Meanwhile, 36.2 percent of homes flipped in the first quarter of 2024 had been bought with financing. That was down slightly from 36.3 percent in the prior quarter, but still up from 34.6 percent a year earlier.

Among metropolitan areas with a population of 1 million or more and sufficient data to analyze, those with the highest percentage of homes flipped in the first quarter of 2024 that had been purchased with cash were in Buffalo, NY (82.2 percent); Detroit, MI (77.3 percent); Cleveland, OH (74.8 percent); Birmingham, AL (73.1 percent) and Pittsburgh, PA (73 percent).

Average time to flip nationwide rises but remains down from a year ago
The average time it took from purchase to resale on home flips increased to 164 days in the first quarter of 2024. That was up from 156 in the fourth quarter of 2023, but still down from 178 days in the first quarter of 2023.

Q1 2024 U.S. Avg Days to Flip Historical Chart

Investor resales to FHA buyers increase
Of the 67,817 U.S. homes flipped in the first quarter of 2024, 11.2 percent were sold to buyers using loans backed by the Federal Housing Administration (FHA), marking the second straight quarterly increase. The latest portion was up from 10.4 percent in the fourth quarter of 2023 and from 10.7 percent in the first quarter of 2023.

Among metro areas with a population of 200,000 or more and at least 50 home flips in the first quarter of 2024, those with the highest percentages of flipped properties sold to FHA buyers — typically first-time home purchasers — were in Scranton, PA (27.1 percent); Bakersfield, CA (26.8 percent); Visalia, CA (26.8 percent); Yuma, AZ (25.9 percent) and Flint, MI (25.8 percent).

One-third of counties have home-flipping rates of at least 10 percent
Home flips accounted for at least 10 percent of all home sales in 284, or 31.5 percent, of the 902 counties around the U.S. with at least 10 flips in the first quarter of 2024. That was well above the 22.7 percent of all counties with enough data to measure in the fourth quarter of 2023. The leaders in the first quarter of this year were Cobb County (Marietta), GA (23.5 percent); Hickman County, TN (outside Nashville) (20.3 percent); Houston County (Warner Robins), GA (20.1 percent); Clayton County, GA (outside Atlanta) (19.6 percent) and Douglas County, GA (outside Atlanta) (19.5 percent).

Report methodology
ATTOM analyzed sales deed data for this report. A single-family home or condo flip was any arms-length transaction that occurred in the quarter where a previous arms-length transaction on the same property had occurred within the last 12 months. The average gross flipping profit is the difference between the purchase price and the flipped price (not including rehab costs and other expenses incurred, which flipping veterans estimate typically run between 20 percent and 33 percent of the property’s after-repair value). Gross flipping return on investment was calculated by dividing the gross flipping profit by the original purchase price.

About ATTOM
ATTOM provides premium property data to power products that improve transparency, innovation, efficiency, and disruption in a data-driven economy. ATTOM multi-sources property tax, deed, mortgage, foreclosure, environmental risk, natural hazard, and neighborhood data for more than 155 million U.S. residential and commercial properties covering 99 percent of the nation’s population. A rigorous data management process involving more than 20 steps validates, standardizes, and enhances the real estate data collected by ATTOM, assigning each property record with a persistent, unique ID — the ATTOM ID. The 30TB ATTOM Data Warehouse fuels innovation in many industries including mortgage, real estate, insurance, marketing, government and more through flexible data delivery solutions that include ATTOM Cloud, bulk file licenses, property data APIs, real estate market trends, property navigator and more. Also, introducing our newest innovative solution, making property data more readily accessible and optimized for AI applications– AI-Ready Solutions.

Media Contact:
Megan Hunt
megan.hunt@attomdata.com

Data and Report Licensing:
datareports@attomdata.com

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SOURCE ATTOM

Technology

ADX welcomes Morgan Stanley as the first international investment bank Remote Trading Member, expanding global access to Abu Dhabi’s capital markets

Published

10 hours ago

May 5, 2026

ABU DHABI, UAE, May 5, 2026 /PRNewswire/ — The Abu Dhabi Securities Exchange (ADX) Group today announced that Morgan Stanley, a leading investment bank and financial services company, has joined the ADX as its first international investment bank Remote Trading Member — enabling Morgan Stanley’s clients to access the ADX directly.

This milestone strengthens ADX’s global connectivity and supports growing international institutional demand for exposure to UAE markets. It also reinforces its position as one of the world’s fastest-growing exchanges by market capitalization, while highlighting the market’s continued progress in depth, liquidity, and inclusion in major global indices.

Remote membership enables Morgan Stanley to provide its clients with direct market access to the ADX, with trading conducted via the firm’s global trading platform. The ADX continues to play a pivotal role in advancing Abu Dhabi’s long-term economic ambitions, as a mechanism for a diversified, innovation-led, knowledge-based economy.

Morgan Stanley’s direct trading access to ADX reflects the strength of Abu Dhabi’s investment proposition and the continued institutionalization of UAE capital markets. Morgan Stanley’s membership will enhance execution quality, optimize order routing, and provide greater control across the end-to-end trade lifecycle, delivering an advanced trading experience for global investors.

The structure follows a proven international access model used by Morgan Stanley and is designed to meet growing client demand for efficient, transparent, and seamless access to ADX-listed opportunities.

Abdulla Salem Alnuaimi, Group Chief Executive Officer of Abu Dhabi Securities Exchange (ADX) Group, said: “This marks a significant step in advancing our ambition to be a leading financial marketplace that drives opportunity and sustainable economic growth. This momentum is reflected in the strong foreign investor participation, with trading value exceeding 85 billion dirhams in the first quarter of 2026 up by 22% year on year. This performance underscores the growing depth and global relevance of our market, while reinforcing our commitment to expanding international access, strengthening cross-border connectivity, and building a world-class market infrastructure that attracts global capital, supports a diverse range of issuers and contributes to Abu Dhabi’s long-term economic prosperity.”

Patrick Delivanis, Regional Co-Head of MENA at Morgan Stanley, said: “Becoming a Remote Trading Member of ADX reflects our focus on providing clients with efficient, seamless access to Abu Dhabi’s capital markets through our market–leading trading platform. We see continued momentum in the institutionalization and international participation of UAE markets, and we’re pleased to support that evolution by enabling international investors to access opportunities in MENA with direct connectivity to local markets, alongside greater transparency and control across the trading lifecycle.”

Morgan Stanley’s participation aligns with ADX’s strategy to strengthen international connectivity, with remote memberships selectively offered to global firms to attract high-quality cross-border liquidity. The announcement builds on the ADX’s expansion momentum: in 2025, foreign investment rose by nearly 14% and institutional trading increased by 10% year on year. Subject to final operational readiness, Morgan Stanley expects to begin trading as a remote member in the coming weeks.

About Abu Dhabi Securities Exchange (ADX)

The Abu Dhabi Securities Exchange (ADX) was established on 15 November 2000 pursuant to Local Law No. (3) of 2000, which granted the exchange legal rights with independent financial and administrative status, as well as the necessary supervisory and executive powers necessary to carry out its functions. On 17 March 2020, the ADX was converted from a public entity into a Public Joint Stock Company (PJSC) in accordance with Law No. (8) of 2020.

The ADX Group, a market infrastructure group comprising the exchange (ADX) and its post-trade ecosystem, including its wholly owned subsidiaries AD Depository and AD Clear, was established. Through its integrated and globally aligned business structure, the ADX Group supports efficient, transparent, and resilient capital markets across trading, clearing, settlement, and custody.

The Group provides an efficient and regulated marketplace for the trading of securities, including equities issued by public joint-stock companies, bonds issued by governments and corporations, exchange-traded funds (ETFs), and other financial instruments approved by the UAE Capital Market Authority.

The ADX is the second-largest exchange in the Arab region by market capitalization. Its strategy of delivering stable financial performance through diversified revenue streams is aligned with the UAE’s national development agenda, “Towards the Next 50”, which aims to build a sustainable, diversified, and high-value-added economy.

For more information, please contact:
Abdulrahman Saleh ALKhateeb
Manager of Corporate Communication
Abu Dhabi Securities Exchange (ADX)
Mobile: +971 (50) 668 9733
Email: ALKhateebA@adx.ae

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SOURCE Abu Dhabi Securities Exchange (ADX)

Technology

Geotab integrates Polestar vehicles into its OEM telematics network

Published

10 hours ago

May 5, 2026

Fleet operators across North America, Europe, and APAC can now access Polestar vehicle data directly in MyGeotab — no aftermarket hardware required.

LONDON, UK, May 5, 2026 /PRNewswire/ — Geotab, a global leader in connected vehicle and asset management solutions, today announced the integration of Polestar vehicles into its OEM telematics network, giving commercial fleet operators seamless access to Polestar data within MyGeotab from day one — with no aftermarket hardware installation required. The integration is available globally across North America, Europe, and Asia Pacific, supporting all Polestar models.

Developed in collaboration with Geotab, among other telematics service providers, Polestar Fleet Telematics integrates directly into MyGeotab. The Geotab integration enables fleet managers to manage Polestar vehicles alongside all other makes and models on a single unified platform — without fitting additional devices.

Connected vehicle data where it matters most

Through Polestar Fleet Telematics, fleet operators gain near-real-time access to a comprehensive dataset — covering EV battery and charging status, location, tyre information, vehicle security, maintenance alerts, and climate data — flowing directly from Polestar’s connected vehicle architecture into MyGeotab, with no physical installation required.

This breadth of data enables fleet managers to move from reactive to proactive operations — scheduling maintenance before failures occur, optimising charge planning across depots, and maintaining duty-of-care oversight across the entire fleet.

Supporting Europe’s Mixed-Fleet Reality

OEM-embedded telematics removes the need for aftermarket device installation across mixed-manufacturer fleets, reducing logistical overhead and supporting compliance with works council and GDPR requirements — a critical consideration for European fleet operators.

“Polestar Fleet Telematics combines sustainability with intelligence, integrating seamlessly with Geotab to deliver these capabilities directly into the platforms fleet operators trust. Continuous data visibility enables more efficient and informed fleet operations, from day-to-day management to long-term planning. By leveraging Polestar vehicles’ embedded connectivity, fleet managers can make smarter, data-driven decisions — without adding hardware or complexity to their operations.” said Emma Knapp, Manager of Global Key Accounts at Polestar.

Polestar joins an OEM telematics network that already spans over 80% of leading global vehicle manufacturers by fleet market share, including BMW Group, Ford, Stellantis, Volkswagen Group, and Volvo Cars. For fleet operators already using MyGeotab, Polestar vehicles can be connected and deliver data without any additional hardware or installation.

“OEM-embedded telematics represents a change in how fleet data reaches the platform — and Polestar’s connected vehicle architecture makes this integration particularly well-suited for markets that are seriously considering transitioning to electric vehicles.” said Christoph Ludewig, Vice President OEM Global at Geotab. “Fleet operators managing mixed EV and internal combustion engine fleets no longer need separate tools or hardware for each vehicle type. Polestar data flows directly into MyGeotab alongside every other vehicle in the fleet — giving operators the consolidated visibility they need to drive efficiency, support duty of care, and manage their EV transition with confidence.”

Global Availability

The integration is available now across North America, Europe, and Asia Pacific, supporting all Polestar models. Fleet managers can activate the service via the Geotab Marketplace or by contacting their Geotab representative.

About Polestar

Polestar (Nasdaq: PSNY) is the Swedish electric performance car brand with a focus on uncompromised design and innovation, and the ambition to accelerate the change towards a sustainable future. Headquartered in Gothenburg, Sweden, its cars are available in 28 markets globally across North America, Europe and Asia Pacific.

Polestar has four models in its line-up: Polestar 2, Polestar 3, Polestar 4, and Polestar 5. Planned models include the Polestar 7 compact SUV (to be introduced in 2028) and the Polestar 6 roadster. With its vehicles currently manufactured on two continents, North America and Asia, Polestar plans to diversify its manufacturing footprint further, with production of Polestar 7 planned in Europe.

Polestar has an unwavering commitment to sustainability and has set an ambitious roadmap to reach its climate targets: halve greenhouse gas emissions by 2030 per-vehicle-sold and become climate-neutral across its value chain by 2040. Polestar’s comprehensive sustainability strategy covers the four areas of Climate, Transparency, Circularity, and Inclusion.

About Geotab

Geotab is a global leader in connected vehicle and asset management solutions, with headquarters in Oakville, Ontario and Atlanta, Georgia. Our mission is to make the world safer, more efficient, and sustainable. We leverage advanced data analytics and AI to transform fleet performance and operations, reducing cost and driving efficiency. Backed by top data scientists and engineers, we serve approximately 100,000 global customers, processing 100 billion data points daily from more than 5 million vehicle subscriptions. Geotab is trusted by Fortune 500 organisations, mid-sized fleets, and the largest public sector fleets in the world, including the US Federal government. Committed to data security and privacy, we hold FIPS 140-3 and FedRAMP authorisations. Our open platform, ecosystem of outstanding partners, and Geotab Marketplace deliver hundreds of fleet-ready third-party solutions. This year, we’re celebrating 25 years of innovation. Learn more at www.geotab.com/uk and follow us on LinkedIn or visit our blog.

GEOTAB and GEOTAB MARKETPLACE are registered trademarks of Geotab Inc. in Canada, the United States and/or other countries.

Media Contact: Geotab Contact, Romina Dashghachian, Strategic Communications Lead, EMEA, pr@geotab.com

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Technology

IDX Opens Geneva Office and Strengthens Global Data & Insights Capability

Published

10 hours ago

May 5, 2026

New Swiss presence and specialist team integration support growing global demand for evidence-based, defensible communications strategies

LONDON, May 5, 2026 /PRNewswire/ — IDX today announced the opening of its new Geneva office and the integration of a specialist Data & Insights team, strengthening the company’s international footprint and expanding its ability to help clients worldwide build communications strategies grounded in evidence, market intelligence and audience insight.

The expansion gives IDX an on-the-ground presence in Switzerland while adding further depth to its Data & Insights capability. The Geneva-based team will work closely with IDX specialists across performance marketing and corporate communications, helping clients develop a clearer view of the markets they operate in and the forces shaping their growth.

The move aligns with Destination 250 – Customers First, IDX’s global strategy to grow its team by 250, focused on deepening client value, strengthening delivery and investing in the capabilities that matter most to clients.

The investment strengthens the Data pillar of IDX’s Connected Content™ model, which combines Creative, Data, Technology and Media to create what IDX calls The Multiplier Effect, helping clients multiply what matters through more connected, measurable and effective work.

“IDX is experiencing phenomenal growth, and our new Geneva office gives us boots on the ground to better serve clients across Europe and globally across performance marketing, investor relations and corporate communications,” said Crispin Beale, Worldwide CEO, IDX. “Data has been at the heart of this business for decades, and this centre of excellence reflects our continued investment in that capability. It’s an incredibly exciting time for IDX, and I look forward to the next phase of our growth as we continue to expand globally.”

“This is an exciting step in IDX’s growth story and a clear response to what clients are asking for: more evidence-based thinking, stronger market context and clearer rationale behind their communications strategies,” said Chris Corrigan, Chief Customer Growth Officer, IDX. “Our new presence in Geneva, combined with deeper Data & Insights expertise, strengthens the way we support clients globally, giving them earlier access to the insight and market context they need to make better-informed decisions and turn evidence into action.”

The Geneva office will strengthen relationships with existing clients in the region, support re-engagement with former partners and create new opportunities for IDX with organisations operating across European and global markets. It reflects IDX’s continued investment in the capabilities that matter most to clients as communications, marketing and corporate reputation work become increasingly data-led and commercially accountable.

“IDX’s integrated offer across insights, performance marketing and corporate communications, powered by the combination of human intelligence, advanced technology and AI, represents exactly where the industry is heading,” said Lonneke de Roo, Head of Data & Insights, IDX. “I am delighted to join the business and help clients navigate increasingly complex markets with clearer evidence, sharper insight and more connected strategies.”

ABOUT IDX

IDX is a global strategic communications and marketing agency, headquartered in London with offices around the world, including New York, London, Phoenix, Helsinki, Gothenburg, Geneva, and Vadodara. Working with more than 1,600 clients across sectors, IDX combines deep industry knowledge with a data-first mindset to help ambitious brands thrive in complex, fast-moving markets. The firm specialises in performance marketing, investor relations, and stakeholder engagement, delivering integrated campaigns that drive meaningful business outcomes. Visit www.idx.inc to learn more.

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