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HOME FLIPPING ACTIVITY DIPS SLIGHTLY WHILE PROFITS INCH UP ACROSS U.S. IN SECOND QUARTER OF 2024

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Flipping Rate Follows Usual Springtime Downward Track While Profits Keep Moving Slowly Higher; Investment Returns Still Hovering Around Modest 30 Percent Level Nationwide; Typical Raw Flipping Profit Rises Close to $75,000

IRVINE, Calif., Sept. 19, 2024 /PRNewswire/ — ATTOM, a leading curator of land, property data, and real estate analytics, today released its second-quarter 2024 U.S. Home Flipping Report showing that 79,540 single-family homes and condominiums in the United States were flipped in the second quarter. Those transactions represented 7.5 percent, or one of every 13 home sales, nationwide during the months running from April through June of 2024.

The latest portion of flipped properties was down from 8.7 percent of all sales in the U.S. during the first quarter of 2024 – a common pattern during the busy annual Springtime buying season each year when other types of home sales spike. The flipping rate also was down slightly from 7.9 percent a year earlier.

While the rate declined, fortunes kept ticking upward for investors who buy, renovate and quickly resell homes. The latest data showed that investors typically earned a 30.4 percent profit nationwide before expenses on homes sold during the second quarter of this year, marking the fourth time in five quarters that margins increased following a six-year period of nearly continuous drop-offs.

The typical profit margin on homes flipped during the second quarter of 2024 – 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 within a range that could easily be wiped out by carrying costs that include renovation expenses, mortgage payments and property taxes, revealing anew the struggles home flippers are having in turning healthy profits.

But the return on investment was up slightly from both the first quarter of 2024 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 about $73,500. That remained down from a high of almost $81,000 reached in 2022, but up from $70,000 in the first quarter of 2024 and more than $12,000 above last year’s low point.

“The Spring home-buying season of 2024 brought another sign of hope for home flippers that the rebound in fortunes that began for them last year was more than just a temporary thing,” said Rob Barber, CEO for ATTOM. “It’s not as if profits have shot through the roof and investors are riding a new wave of good times. Far from it, as they continue to struggle to benefit from the broader market boom. But the second-quarter numbers did show another step in the right direction.”

He added that “with the market rising amid tight supplies of homes for sale around the country and falling interest rates, conditions appear ripe for more improvement over the rest of the year as long as prices don’t shoot up past what most buyers can afford.”

The small changes in flipping activity and profit margins during the second quarter came during yet another period of mixed patterns for the home-flipping industry compared to the U.S. housing market.

Overall, home prices rebounded strongly during the second quarter from a varied period of gains and losses during the prior 12-month period. Median prices for all single-family homes and condos nationwide rose 9 percent quarterly and 6 percent annually.

But home-flipping resale prices rose far less, with the median inching up only 2 percent quarterly and annually to $315,000. Nevertheless, that was enough to boost flipping profit margins as investors benefitted, in small increments, from shifts in prices going in their favor between the time of purchase to resale. Those gaps led to the quarterly and yearly improvement in investment returns.

The latest gains for home flippers extended their recovery from an unusual pattern of timing the housing market poorly, which resulted in their profits dropping from 2016 through 2022 while returns for other sellers soared.

Home-flipping rates dip downward in most of U.S.
Home flips as a portion of all home sales decreased from the first quarter of 2024 to the second quarter of 2024 in 159 of the 185 metropolitan statistical areas around the U.S. with enough data to analyze (85.9 percent). They went down annually in 115, or 62.2 percent, of those markets. Measured against the same peak buying period of 2023, most flipping rates declined less than one percentage point. (Metro areas were included if they had a population of 200,000 or more and at least 50 home flips in the second quarter of 2024).

Among the metro areas analyzed, the largest flipping rates during the second quarter of 2024 were in Warner Robins, GA (flips comprised 20.7 percent of all home sales); Macon, GA (15.4 percent); Atlanta, GA (13.4 percent); Columbus, GA (13.2 percent) and Memphis, TN (12.8 percent).

Q2 2024 U.S. Home Flipping Historical Trends

Aside from Atlanta and Memphis, the highest second-quarter flipping rates among metro areas with a population of more than 1 million were in Birmingham, AL (11.7 percent); Cleveland, OH (11 percent) and Columbus, OH (10.7 percent).

The smallest home-flipping rates were in Hilo, HI (3.3 percent); Honolulu, HI (3.5 percent); Seattle, WA (4 percent); San Jose, CA (4.1 percent) and Portland, OR (4.2 percent).

Typical home-flipping returns up year over year in slightly more than half of U.S.
The median $315,000 resale price of homes flipped nationwide in the second quarter of 2024 generated a gross profit of $73,492 above the median investor purchase price of $241,508. That resulted in a typical 30.4 percent gross profit margin before expenses in the second quarter of 2024, up about one point from 29.2 percent in the first quarter of 2024 and up from 27.8 percent in the second 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 percent in 2020.          .

Profit margins increased from the first to the second quarter of this year in 93 of the 185 metro areas analyzed (50.3 percent) and were up annually in 107 of those markets (57.8 percent).

Metro areas with the biggest year-over-year increases in typical profit margins during the second quarter were Akron, OH (ROI up from 30.9 percent in the second quarter of 2023 to 78.1 percent in the second quarter of 2024); Cape CoralFort Myers, FL (up from 13.8 percent to 56.4 percent); Springfield, IL (up from 34.5 percent to 75 percent); Gainesville, FL (up from 30.2 percent to 65.3 percent) and Spokane, WA (up from 28.6 percent to 61.4 percent).

The biggest annual increases in typical profit margins among metro areas with a population of at least 1 million came in Buffalo, NY (ROI up from 66.7 percent in the second quarter of 2023 to 95.7 percent in the second quarter of 2024); Cleveland, OH (up from 40 percent to 66.7 percent); Memphis, TN (up from 52.6 percent to 73.5 percent); Tulsa, OK (up from 39.7 percent to 59.2 percent) and Cincinnati, OH (up from 40.6 percent to 58 percent).

The recent gains resulted in typical gross profit margins of at least 30 percent in 105, or almost six of every 10 metros with enough data to analyze in the second quarter of 2024. That was exactly the same number as a year earlier. Typical profit margins surpassed 50 percent in the second quarter of this year in only one-third of the areas reviewed.

Q2 2024 Home Flipping Profit Trends Historical Chart

Highest raw profits remain in higher-end markets across West, South and Northeast
The largest raw profits on median-priced home flips in the second quarter of 2024, measured in dollars, were concentrated in areas of the West, South and Northeast regions where resale prices mostly topped $400,000. Nine of the top 10 fell into that category, led by San Jose, CA (typical gross profit of $350,000 on a median resale value of $1.7 million); San Diego, CA ($211,000 profit on a median resale value of $925,000); Hilo, HI ($191,650 profit on a median resale value of $521,400); New York, NY ($190,000 profit on a median resale value of $600,000) and Boston, MA ($189,000 profit on a median resale value of $649,000).

The South also continued to dominate the opposite end of the range, with 17 of the 20 worst raw profits on median-priced transactions during the second quarter. Most came in areas with median resale prices below $300,000. The weakest numbers were in Naples, FL ($12,500 loss on a median resale value of $650,000); Tyler, TX (7,262 loss on a median resale value of $274,908); Warner Robins, GA (5,316 profit on a median resale value of $263,316); Lubbock, TX ($5,584 profit on a median resale value of $211,066) and Killeen, TX ($6,013 profit on a median resale value of $226,696).

Two-thirds of home flips again financed with all cash 
Nationwide, 63 percent of homes flipped in the second quarter of 2024 had been purchased by investors with cash only. That was virtually the same as the 62.6 percent level in the first quarter of 2024, although up from 60.4 percent portion in the second quarter of 2023. Meanwhile, 37 percent of homes flipped in the second quarter of 2024 had been bought with financing. That was down slightly from 37.4 percent in the prior quarter, but still up from 39.6 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 second quarter of 2024 that had been purchased with cash included Buffalo, NY (80.5 percent); Pittsburgh, PA (76.9 percent); Cleveland, OH (75.6 percent); Birmingham, AL (74.3 percent) and Rochester, NY (74.1 percent).

Average time to flip nationwide holds steady quarterly but remains down annually
The average time it took from purchase to resale on home flips increased slightly from 164 days in the first quarter of 2024 to 166 days in the second quarter. However, the latest figure was down from 178 days in the second quarter of 2023.

Q2 2024 U.S. Avg Days to Flip Historical Chart 

Investor resales to FHA buyers unchanged quarterly
Of the 79,540 U.S. homes flipped in the second quarter of 2024, 11.1 percent were sold to buyers using loans backed by the Federal Housing Administration (FHA). That was virtually the same as the 11.2 percent portion in the first quarter of 2024 although down from 11.8 percent in the second quarter of 2023.

Among metro areas with a population of 200,000 or more and at least 50 home flips in the second quarter of 2024, the highest percentages of flipped properties sold to FHA buyers — typically first-time home purchasers — were in Lakeland, FL (30.1 percent); Brownsville, TX (29.6 percent); Bakersfield, CA (25.4 percent); Fresno, CA (24.1 percent) and Vallejo, CA (23.4 percent).

One of every five counties have home-flipping rates of at least 10 percent
Home flips accounted for at least 10 percent of all home sales in 195, or 19.5 percent, of the 999 counties around the U.S. with at least 10 flips in the second quarter of 2024. That was well below the 31.5 percent of all counties with enough data to measure in the first quarter of 2024. The leaders in the second quarter of this year were Cobb County (Marietta), GA (23.1 percent flipping rate); Houston County (Warner Robins), GA (21.9 percent); Clayton County, GA (outside Atlanta) (19.6 percent); Berrien County (Nashville), GA (18.3 percent) and Jasper County, GA (outside Atlanta) (17.9 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 and analytics that power a myriad of solutions that improve transparency, innovation, digitization and efficiency 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 Cloudbulk file licensesproperty data APIsreal estate market trendsproperty 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

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Hilco Global Engaged by Stan Lee Holdings to Sell Rare & Valuable Intellectual Property Portfolio

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NEW YORK, July 24, 2026 /PRNewswire/ — Hilco Global, a diversified financial services company that delivers expert professional services and capital solutions to help clients maximize value and drive performance across the business lifecycle, is pleased to announce that its IP Services practice has been engaged by Stan Lee Holdings, Ltd. (“SLH”) to sell a legendary portfolio of intellectual property developed by Stan Lee, the iconic “father of the super hero.” Known as the Omniverse Collection created by Stan Lee, the portfolio represents a treasure trove of original characters and source material developed by Stan when he was leading Marvel Comics and when he built Stan Lee Entertainment – the first super hero animation studio created for the Internet age. This rare and valuable collection of Intellectual Property encompasses dozens of compelling super heroes and stories conceived by Stan from 1999 to 2001 as well as a franchise comprising over 50 well-known characters – the only franchise of Marvel-created characters not owned by Marvel. Full details of the collection, including the individual characters, franchises, and story properties it comprises, will be released in the coming weeks.

Through this collaboration, Hilco Global will work alongside SLH and former EVP of Marvel Entertainment Shirrel Rhoades to find a new home for a body of largely underleveraged super hero and other characters, as well as world-building intellectual property. Numerous supporting  scripts, episodes, and development materials spanning Stan Lee’s career are also part of the offering.

“The Omniverse Collection created by Stan Lee is one of the most significant super hero IP offerings of the decade,” said Eric Hurwitz, Senior Director of the Hilco Global IP Services practice. “This large, diverse portfolio presents the opportunity to capitalize on untapped material with an unmatched pedigree. A buyer essentially has a blank slate to bring these characters to fans worldwide and expand on Stan Lee’s legacy. Hilco Global is thrilled to bring these assets to market, leveraging deep experience across intellectual property and media valuation, licensing, and transaction execution.”

Among the intellectual property being offered is a hidden gem; a connected entertainment universe of Stan Lee’s own creation. “This one-of-a-kind IP collection illustrates just how far ahead Stan was in understanding the future of entertainment,” observed Shirrel Rhoades, who was handpicked by Stan Lee to succeed him as publisher of Marvel. “What we’re bringing to market isn’t a collection of isolated ideas. It’s pieces of one larger vision, a living digital universe in which characters can be created, experienced, and expanded across every form of media.”

Parties can reach out to Ehurwitz@hilcoglobal.com to register interest. More information about the offering, the individual properties within the collection, and the sale process will become available soon.

About Hilco Global:  Hilco Global, a subsidiary of ORIX Corporation USA, is a diversified financial services company that delivers integrated professional services and capital solutions that help clients maximize value and drive performance across the retail, commercial and industrial, real estate, manufacturing, and intellectual property sectors. Hilco Global provides a range of customized solutions to healthy, stressed, and distressed companies to resolve complex situations and enhance long-term enterprise value. Hilco Global works to deliver the best possible result by aligning interests with clients and providing strategic advice and, in many instances, the capital required to transact. Hilco Global is based in Northbrook, Illinois and has more than 810 professionals operating on four continents. Visit www.hilcoglobal.com

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SOURCE Hilco Trading, LLC

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GR0 to Acquire Ultimate AI’s Deployment Division and Launch GR0 AI, Turning Brands’ Existing Customer Data Into Revenue

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The new company pairs GR0’s performance marketing distribution with Ultimate Deployment’s AI agents and customer intelligence to build AI revenue systems for DTC and ecommerce brands; in one early deployment, AI-led customer conversations were associated with more than $350,000 in sales.

LOS ANGELES, July 24, 2026 /PRNewswire/ — GR0, the Los Angeles-based digital marketing agency, today announced plans to acquire Ultimate Deployment and launch GR0 AI, a new company that builds and deploys AI revenue systems for direct-to-consumer (DTC) and ecommerce brands. GR0 AI combines GR0’s performance marketing expertise, client relationships and sales infrastructure with Ultimate Deployment’s technology and experience deploying AI agents inside operating businesses.

“AI is creating an entirely new performance channel for brands,” said Jon Zacharias, co-founder and president of GR0. “Most companies already have the traffic, customer data and demand. What they’re missing is an intelligent system that knows who to contact, what to say and when to say it. GR0 AI turns the customer signals brands already own into personalized conversations and measurable revenue.”

The approach is already producing results. In one early deployment, AI-led customer conversations were associated with more than $350,000 in sales during a period in which the brand generated approximately $1 million in total revenue. GR0 AI deployments include attribution and incrementality reporting so brands can measure both assisted and directly generated revenue.

GR0 AI deploys inside a brand’s existing commerce, CRM, email, SMS, phone and customer-data infrastructure. Its systems:

Identify and prioritize high-intent customers and prospects Personalize outreach and follow-up based on customer behavior and company data Conduct two-way conversations across messaging channels, recovering revenue from abandoned carts, dormant customers and unconverted leads Escalate complex or high-value opportunities to human sales and support teams Measure the revenue associated with AI-driven interactions

“Most brands do not have a demand problem.  They already have thousands of customers and prospects sitting inside their systems,” said Ben Ganz, founder of Ultimate Deployment. “We build the company brain, unify the data and deploy AI employees that act on that intelligence. The opportunity falls into two buckets: recover the demand a brand has already earned, and make sure no new opportunity slips through the cracks. GR0 gives us the distribution, market access and operating experience to bring this to hundreds of brands.”

Ganz has spent his career at the intersection of entertainment and technology. He began as a producer on American Idol before moving into digital leadership at Fox, then founded VEGO Pictures, a digital production and technology company that worked with major entertainment and consumer brands and served as in-house production partner to Kevin Hart’s Laugh Out Loud Network. He also co-founded a virtual events company that produced digital graduation experiences for hundreds of thousands of students during the COVID-19 pandemic.

From there, Ganz and his team moved to the frontier of consumer AI, creating what FOX News called Hollywood’s first AI interactive voice experience. They powered AI personalities for creators with a combined audience of 100 million followers and engineered the world’s first AI assembly line for replicating personalities at scale, work the Hollywood Reporter recognized as the “Real-life Her.”  Ultimate Deployment then turned that conversational AI expertise toward the enterprise, building systems that connect company knowledge, customer data, and operational software with AI agents capable of performing real, meaningful business work.

“Ben and his team have built something with the potential to become a major new revenue channel for ecommerce companies,” Zacharias said. “We have seen very few offerings create this level of excitement among sophisticated performance marketers.”

Every GR0 AI engagement begins with an intensive discovery and implementation process: the team interviews key employees, maps the company’s systems and builds a centralized intelligence layer around the business. Lead scoring and prioritization are connected to the brand’s CRM before customer-facing AI agents go live.

“The technical opportunity is clear, and our job is to make it just as clear commercially,” said Kevin Miller, founder and CEO of GR0. “A brand that works with GR0 AI will know exactly what is being installed, how quickly it goes live and what revenue it is producing.”

The acquisition is expected to close this quarter, subject to completion of definitive agreements. Financial terms were not disclosed.

Brands interested in early GR0 AI deployments can learn more at www.gr0.com.

About GR0

GR0 is a full-service digital marketing agency that helps DTC and ecommerce brands accelerate growth through data-driven performance marketing, creative strategy and emerging technology. Co-founded by Kevin Miller and Jon Zacharias, GR0 provides services across SEO, Generative Engine Optimization, paid media, email, SMS, creative, affiliate and marketplace growth, and was among the first agencies to build a dedicated GEO practice, which is recognized by VentureBeat as one of America’s premier Generative Engine Optimization agencies. GR0 is headquartered in Los Angeles. Learn more at GR0.com.

About Ultimate Deployment

Ultimate Deployment builds AI employees for growing companies. Founded by Ben Ganz, the company captures how a business operates, organizes its institutional knowledge, connects its systems and deploys AI agents that perform real operational work across sales, customer experience, marketing, finance and internal teams.

Before its enterprise focus, Ultimate Deployment’s team built consumer AI at entertainment scale, creating Hollywood’s first interactive voice experience, powering AI personalities for creators with a combined audience of 100 million followers and engineering the world’s first AI assembly line for replicating personalities’ work featured by Fox News and recognized by The Hollywood Reporter as the real-life Her.

About Ultimate AI

Ultimate AI, founded by Ben Ganz, is a holding company building AI across consumer and enterprise. It launched during the first wave of consumer generative AI as an early AI super app, bringing more than 100 AI tools and assistants into a single consumer platform that peaked within the top 10 of its Apple App Store category, according to company data. The company then expanded into creator AI, developing technology that lets public figures build interactive AI experiences around their personality, voice, knowledge and content. In 2024, Ultimate AI created Pookie Tools (widely known as the Hawk Tuah AI app), whose launch generated more than 400 million organic social media views and more than 10,000 downloads in its first seven days with no paid marketing, according to company data. It went on to develop real-time voice and personality products, including an experience Fox News described as Hollywood’s first real-time AI experience.

Ultimate Deployment, the enterprise arm that GR0 is acquiring, formed in March 2026 following the release of frontier agentic models from Anthropic and OpenAI, and applies that technology inside operating companies. It builds AI employees that capture how a business operates, unify its data and systems, and perform real operational work across sales, customer experience, marketing, finance and internal teams.

Company: GR0
Media Contact Name: GR0 Agency
Media Contact Email: press@gr0.com
Phone: +1 (310) 439-1887
Address: Los Angeles, CA, USA
Website: https://gr0.com/

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SOURCE GR0.com LLC

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Tech Mahindra and Cisco Partner to Bring AI-Driven Security Service Edge to Global Enterprises

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PUNE, India, July 24, 2026 /PRNewswire/ — Tech Mahindra (NSE: TECHM), a leading global provider of technology consulting and digital solutions to enterprises across industries, announced a partnership with Cisco to deliver an AI-driven Security Service Edge (SSE) offering for global enterprises. The joint offering will help enterprises reduce security complexity, improve visibility and control, deliver seamless user access, and strengthen resilience as they scale cloud, hybrid work, and AI adoption.

The partnership combines Tech Mahindra’s global managed services, integration, and delivery expertise with Cisco’s industry-leading Security Service Edge (SSE) platform (Cisco Secure Access) to provide unified, cloud-native security and seamless zero-trust access across users, devices, networks, and locations. For Tech Mahindra, the partnership strengthens its cybersecurity portfolio with differentiated, high-value managed security services, expands its addressable market, and accelerates pipeline growth in cloud security.

Saket Singh, SVP & Business Head – Digital Core Services (Cloud, Infrastructure, Network and Cyber Security Services), Tech Mahindra, said, “As enterprises increasingly operate in hybrid and distributed environments, security must evolve from siloed controls to unified, cloud-native platforms. Fragmented tools, inconsistent user experiences, and rising threats are creating visibility and control gaps as applications are accessed from anywhere. Through our partnership with Cisco, we are combining advanced SSE capabilities with Tech Mahindra’s managed services expertise to simplify operations, strengthen zero-trust enforcement, and deliver consistent, AI-powered protection at scale.”

By integrating a secure web gateway, cloud access security broker (CASB), zero trust network access (ZTNA), firewall-as-a-service, data loss prevention (DLP), and much more into a single platform, the offering simplifies security operations and delivers AI-powered protection. Enterprises benefit from end-to-end visibility, faster deployment, and a streamlined path to modernizing their security architecture while accelerating secure cloud adoption and cyber resilience. Additionally, as enterprises inevitably step into the agentic era, this solution provides robust and rapidly expanding protections for the use of generative AI and AI agents.

Raj Chopra, SVP & Chief Product Officer, Cisco Security Business Group, said, “Enterprises don’t need another tool to stitch into an already complex security stack. They need a simpler way to secure how work actually happens across users, devices, applications, clouds, and increasingly AI agents. Cisco Secure Access brings zero trust, identity context, and AI-powered protection into one cloud-delivered platform, helping teams enforce policy consistently while giving users seamless access from anywhere. Together with Tech Mahindra’s global managed services and integration expertise, we can help organizations modernize security operations, accelerate secure cloud and AI adoption, and move with confidence in the agentic era.”

The integrated SSE solution reinforces Tech Mahindra and Cisco’s leadership in unified cloud-security, helping enterprises simplify secure access, strengthen resilience and accelerate digital transformation in an increasingly distributed and AI-driven world.

 

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SOURCE Tech Mahindra

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