Technology
1800® TEQUILA LAUNCHES 12TH EDITION OF ITS “ESSENTIAL ARTIST SERIES” WITH MEXICAN MULTIMEDIA ARTIST RAÚL DE NIEVES
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2 weeks agoon
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The colorful six bottle collection features original stained-glass-inspired work from Raúl de Nieves
JERSEY CITY, N.J., Jan. 7, 2025 /PRNewswire/ — 1800® Tequila, the world’s most awarded tequila1, announced today the 12th edition of its “Essential Artist Series,” an artist-led limited-edition bottle collaboration program that pushes the boundaries of taste in tequila and in life. Founded as a means to showcase art in a non-traditional medium, each year the 1800 Tequila Essential Artist Series presents a new discussion around the crucial link between art and culture. This new collection features six original works of art from Mexican multimedia artist Raúl de Nieves and celebrates the many facets of de Nieves’ Mexican heritage and identity.
1800 Tequila selected Raúl de Nieves as its hero co-creator for his passionate Mexican identity and the shared championing of Mexican culture through their respective crafts. The brand’s continuous support of established and emerging Mexican artists finds likeness in de Nieves’ fusion of traditional Mexican craft and storytelling within his artwork. The collection includes six exclusive bottles showcasing original artwork by de Nieves, an extension of his “A window to the see, a spirit star chiming in the wind of wonder…” installation in the Henry Art Gallery at the University of Washington. The collection symbolizes the relationship between the earth realm and the ancestral one through a celestial landscape of infinite possibilities, with each design representing a character on a journey of self-discovery. At the neck of the 1800 Tequila bottle lies the” Sagrado Corazón,” the heart of hours, days and memories that come with life.
“Being Mexican has always been at the forefront of my identity, so I am incredibly honored for 1800 Tequila, a brand that makes it a priority to spotlight Mexican voices, to have selected me as this year’s Essential Artist,” said Raúl de Nieves. “Similar to 1800 Tequila, my culture is my craft. I am beyond excited to unveil this collaboration to the world and bring Mexican culture to a global stage through this partnership.”
1800 Tequila and de Nieves exclusively previewed the 12th edition of the Essential Artist Series at the contemporary art triennial in New Orleans, Prospect.6 on Día de los Muertos – a Mexican holiday to remember the life of those who have passed on from the physical world. As an extension of their partnership, 1800 Tequila was the exclusive benefactor of the de Nieves “Un Corazón Sagrado” sculpture, now on display in New Orleans at the Harmony Circle, and the Official Tequila for the Prospect.6 Artist Party and Gala.
The 12th iteration of the Essential Artist Series furthers the brand’s ongoing commitment to support emerging and established artists who have impacted culture. 1800 Tequila has partnered with renowned artists such as Dustin Yellin, Okuda San Miguel, Shantell Martin, Enoc Perez and the Basquiat and Haring estates for over ten decades. Through these collaborations, 1800 Tequila provided creators with an alternative canvas – the glass bottle – ultimately creating numerous sought-after collectibles.
“As the tequila category grows, 1800 Tequila maintains its leadership as the world’s most awarded tequila and a historic Mexican brand that prioritizes taste across both tequila and culture. This decades-long art project has produced accessible art collectibles for our fans, collaborating with some of the world’s most culturally relevant artists,” said Lander Otegui, Senior Vice President of Marketing at Proximo Spirits. “We are proud to have an Essential Artist such as Raúl de Nieves join us this year to explore and introduce our multi-faceted and colorful Mexican culture to a U.S. audience.”
The 1800 Tequila Essential Artist Series 12 featuring Raúl de Nieves’ bespoke bottle collection is now available at 1800Tequila.com and in limited quantities in-store nationwide.
About 1800® Tequila
1800 Tequila, the world’s most awarded tequila and the #1 super premium tequila brand in the U.S., is made with 100% blue Weber agave harvested at its peak in Tequila, Mexico. Now, as the best taste in tequila, 1800 Tequila has reached category leadership through its liquid superiority and creation of the first Añejo tequila, deep-rooted Mexican heritage and culture-driving collaborations with musicians and artists. The iconic bottle is also recognized for its trapezoidal shape, reminiscent of the centuries-old Mayan stone pyramids found throughout Mexico. Please visit 1800Tequila.com and follow us on Instagram @1800tequila to learn more about the 1800 Tequila portfolio.
1800® Tequila. 40% Alc./Vol. (80 proof). Trademarks owned by JC Master Distribution Limited. ©2025 Proximo, Jersey City, NJ. Please drink responsibly.
1Source: Based on awards received by 1800 Tequila from Academia Mexicana del Tequila, A.C., Diosa Mayahual, SFWSC and IWSC between 2001 and 2023.
About Raúl de Nieves
Recent solo institutional exhibitions include: and imagine you are here, Baltimore Museum of Art, Baltimore, MD (2023); A window to the see, a spirit star chiming in the wind of wonder…, Henry Art Gallery, Seattle, WA (2023); The Treasure House of Memory, ICA Boston, Boston, MA (2021); Eternal Return & the Obsidian Heart, Museum of Contemporary Art North Miami, Miami, FL (2021); and Reemerge the Zero Begins Your Life, Eternal is Your Light, SCAD Museum of Art, Savannah, GA (2020). De Nieves has participated in numerous group exhibitions including those at Hauser & Wirth, The Highline, MoMA PS1, the 2017 Whitney Biennial, K11 Foundation, Documenta 14, Performa 13, ICA Philadelphia, The Watermill Center, The Kitchen, Artist’s Space and numerous other venues. His work is included in public collections at the Institute of Contemporary Art Boston, Whitney Museum of American Art and the Museum of Contemporary Art, Los Angeles. De Nieves was born in 1983 in Michoacan, Mexico and currently lives and works in Brooklyn, NY.
Press Contact:
1800 Tequila
1800@exposure.net
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SOURCE 1800 Tequila
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Technology
SEC Enforcement of Cryptocurrency Dropped 30% in the Last Year of the Gensler Administration
Published
34 minutes agoon
January 23, 2025By
Enforcement during Gensler administration was considerably higher than during the previous administration
WASHINGTON, Jan. 23, 2025 /PRNewswire-PRWeb/ — The Securities and Exchange Commission (SEC) brought 33 cryptocurrency-related enforcement actions in 2024, the last year of the Chair Gary Gensler’s administration, according to a Cornerstone Research report released today. This number is 30% lower than the high reached in 2023 and marks the first year-over-year decline since 2021.
The report, SEC Cryptocurrency Enforcement: 2024 Update, found that, of the 33 enforcement actions, half were brought in September and October, ahead of the presidential election in early November. The SEC brought 25 litigations in U.S. district courts and eight administrative proceedings in 2024. Compared to 2023, the number of litigations slightly decreased, while administrative proceedings declined by more than 50%. Monetary penalties imposed reached a record high of $4.98 billion, largely attributable to one multi-billion-dollar settlement.
“The SEC has continued to focus on its implementation of the Howey test,” said Abe Chernin, a Cornerstone Research vice president and cohead of the firm’s FinTech practice. “In 2024, the SEC also concentrated on enforcement actions alleging market manipulation or failures to register as a broker-dealer.”
The report also compares the Gensler administration to that of Jay Clayton, the SEC chair during the first Trump administration (May 4, 2017–December 23, 2020). Under Chair Gensler (April 17, 2021–December 31, 2024), the SEC initiated 125 cryptocurrency-related enforcement actions, compared to 70 under Chair Clayton. Of those, Chair Gensler resolved 98 while Chair Clayton resolved 50. The Gensler administration imposed $6.05 billion in monetary penalties, nearly four times the $1.52 billion imposed under Chair Clayton.
“Despite the drop in number of enforcement actions in 2024, cryptocurrency remained a top priority during Chair Gensler’s final year,” said Simona Mola, the report’s author and a principal at Cornerstone Research. “Since 2018, cryptocurrency has represented, on average, approximately 6% of the SEC’s overall enforcement efforts in terms of actions initiated. We will be watching how enforcement may change in 2025, in light of the SEC’s recently announced crypto task force.”
The analysis further found that 66% of all enforcement actions brought under Chair Gensler contained allegations of fraud, compared to 54% of actions brought under Chair Clayton. Conversely, 71% of Clayton administration actions contained unregistered securities offering violations, compared to 63% during the Gensler administration.
Additional Highlights
Of all 2024 cryptocurrency-related SEC actions, 73% alleged fraud, while 58% alleged an unregistered securities offering violation, and 39% alleged both.Fourteen actions alleged market manipulation or failure to register as a broker-dealer, an increase compared to prior years.Eight enforcement actions were related to initial coin offerings (ICOs), and one was related to nonfungible tokens (NFTs).The SEC charged 90 defendants—57 individuals and 33 firms—in 2024 enforcement actions. Approximately 21% of actions were against individuals only, down from 36% in 2023.The SEC continued to recognize self-reporting, cooperation, or remedial efforts of five of the nine respondents charged in administrative proceedings. In one administrative proceeding, the SEC imposed no monetary penalties because of remedial efforts and cooperation.Since 2013, when the SEC brought its first cryptocurrency-related enforcement action, through 2024, the SEC brought 207 enforcement actions, including 135 litigations and 72 administrative proceedings. Of the 207 actions brought since 2013, 47% have been related to ICOs.
Cornerstone Research’s Cryptocurrency Enforcement Database contains cryptocurrency-related enforcement actions brought by the SEC between January 1, 2013, and December 31, 2024.
About Cornerstone Research
Cornerstone Research provides economic and financial consulting and expert testimony in all phases of complex disputes and regulatory investigations. The firm works with an extensive network of prominent academics and industry practitioners to identify the best-qualified expert for each assignment. With a reputation for high quality and effectiveness, Cornerstone Research has consistently delivered rigorous, state-of-the-art analysis since 1989. The firm has more than 1,000 professionals in nine offices across the United States, UK, and EU.
Media Contact
Elisabeth Gaubinger, Cornerstone Research, 202.912.8909, egaubinger@cornerstone.com, https://www.cornerstone.com/
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Technology
THE FIRST-EVER EIGHT-COUNTRY HOLOCAUST KNOWLEDGE AND AWARENESS INDEX SHOWS GROWING GAP IN KNOWLEDGE ABOUT THE HOLOCAUST, ESPECIALLY IN YOUNG ADULTS
Published
34 minutes agoon
January 23, 2025By
The Majority Of Respondents In Almost Every Country Surveyed Feel Something Like The Holocaust Could Happen Again; A Majority Of Respondents Also Show Strong Desire For Holocaust Education
NEW YORK, Jan. 23, 2025 /PRNewswire/ — The Conference on Jewish Material Claims Against Germany (Claims Conference) today released the first-ever, eight-country Index on Holocaust Knowledge and Awareness, exposing a global trend in fading knowledge of basic facts about the Holocaust. The countries surveyed include the United States, the United Kingdom, France, Austria, Germany, Poland, Hungary and Romania.
The majority of respondents in each country, except Romania, believe something like the Holocaust (another mass genocide against Jewish people) could happen again today. Concern is highest in the United States, where more than three-quarters (76%) of all adults surveyed believe something like the Holocaust could happen again today, followed by the U.K. at 69%, France at 63%, Austria at 62%, Germany at 61%, Poland at 54%, Hungary at 52%, and Romania at 44%.
Shockingly, some adults surveyed say that they had not heard or weren’t sure if they had heard of the Holocaust (Shoah) prior to taking the survey. This is amplified among young adults ages 18-29 who are the most recent reflection of local education systems; when surveyed, they indicated that they had not heard or weren’t sure if they had heard of the Holocaust (Shoah): France (46%), Romania (15%), Austria (14%) and Germany (12%). Additionally, while Auschwitz-Birkenau is the most well-known camp, nearly half (48%) of Americans surveyed are unable to name a single camp or ghetto established by the Nazis during World War II.
On a more positive note, there is overwhelming support for Holocaust education. Across all countries surveyed, nine-in-10 or more adults believe it is important to continue teaching about the Holocaust, in part, so it does not happen again.
Gideon Taylor, President of the Claims Conference. “The alarming gaps in knowledge, particularly among younger generations, highlight an urgent need for more effective Holocaust education. The fact that a significant number of adults cannot identify basic facts—such as the 6 million Jews who perished—is deeply concerning. Equally troubling is the widespread belief that something like the Holocaust could happen again, underscoring the critical importance of educating people about the consequences of unchecked hatred and bigotry. We are proud of the progress made by our partners worldwide, but this Index makes it clear: there is still much more work to be done.”
While overall awareness about the Holocaust is high across the majority of the countries surveyed, Holocaust distortion is also high. Overall, a majority of all populations surveyed did not know that 6 million Jews were killed during the Holocaust. 20% or more respondents in seven out of the eight countries surveyed believe 2 million or fewer Jews were murdered during the Holocaust with Romania falling at 28%, Hungary at 27%, and Poland at 24%. What makes this even more surprising is that nearly 3 million of those murdered during the Holocaust were from Poland. Respondents in Germany fared the best with this question but still a surprising 18% of respondents from Germany believe that 2 million or fewer Jews were killed during the Holocaust.
Greg Schneider, Claims Conference Executive Vice President, said, “With the Holocaust survivor population rapidly declining, we are at a critical and irreversible crossroad. Survivors, our most powerful educators, will not be with us much longer—and this Index is a stark warning that without urgent and sustained action, the history and lessons of the Holocaust risk slipping into obscurity. This is our final chance, our last moment in history, to honor their legacy by ensuring that our commitment to remembering their experiences is unshakable and unwavering.”
Matthew Bronfman, Index Taskforce Lead, said, “As we continue to delve into these surveys and understand better where Holocaust education is working and where it requires attention, it is powerful to see that a majority of all people polled across all countries in this index not only agree that Holocaust education is important, but want to continue teaching the Holocaust in schools. Now our task is clear; we must take this mandate and make it happen.”
KEY FINDINGS INCLUDE:
A majority of adults across almost all countries surveyed believe something like the Holocaust could happen again today. In the U.S., more than three-quarters (76%) of all adults surveyed believe something like the Holocaust could happen again today. This sentiment is echoed in the U.K (69%), France (63%), Austria (62%), Germany (61%), Poland (54%), and Hungary (52%). In Romania, 44% of adults surveyed believe something like the Holocaust could happen again today.
Across countries surveyed, large swaths of the population do not know that 6 million Jews were killed during the Holocaust, and notable subsets of the populations believe 2 million or fewer Jews were killed. Participants who believe that 2 million or fewer Jews were killed include 28% in Romania, 27% in Hungary, 24% in Poland, 21% in France, the U.S. and Austria, and 20% in the U.K., and 18% in Germany.
One in five French adults say that they had not heard or weren’t sure if they had heard of the Shoah prior to taking the survey.
A notable portion of young adults ages 18-29 had not heard of the Holocaust in France (46%), Romania (15%), Austria (14%) and Germany (12%).
Across countries surveyed, 18–29-year-olds are more likely to believe that the number of Jews killed during the Holocaust has been exaggerated.
When asked to name concentration camps, killing centers (death camps), killing sites, transit camps or ghettos, nearly half (48%) of Americans could not name a single one of the more than 40,000 camps established during World War II. One-quarter of adults in the U.K., France and Romania, and 26% of all respondents, could not name a single camp or ghetto, while in Germany and Hungary it was 18%, in Austria 10%, and in Poland 7%. Auschwitz-Birkenau is the most well-known camp or ghetto.
Across countries, a sizeable share of the population does not believe the number of Jews killed in the Holocaust has been accurately described. Survey participants who disagree that the Holocaust happened and the number of Jews who were killed has been accurately and fairly described are 25% in France and Austria, 24% in Germany, 23% in Poland and Romania, 19% in Hungary, 17% in the U.K., and 16% in the U.S.
Notably, in Romania, of adults ages 18 to 29, 53% agree that the Holocaust happened, but the number of Jews who were killed in the Holocaust has been greatly exaggerated. Comparatively, this number was 22% in Hungary, 33% in France, 14% in Poland, 21% in Austria, 13% in Germany, 15% in the U.S., and 11% in the U.K.
Overall, Americans and Hungarians are most likely to report that Holocaust denial is common in their countries. In Hungary, 45% of all survey participants state that denial is common in their country. This is followed by 44% in the U.S., 38% in France, 34% in Germany, 27% in Austria, 24% in the U.K. and Romania, and 20% in Poland.
Nearly half of adults in the U.S. (49%), Hungary (47%), France (44%) and Germany (44%) report that Holocaust distortion is common in their country. The results in the additional countries surveyed: Austria (34%), Poland (27%), the U.K. (26%), and Romania (25%) feel it is less so.
Across countries, when asked if they had encountered Holocaust denial or distortion while on social media, nearly half (47%) of Polish adults said “yes.” In Austria and Hungary this number was 38%, in Germany 37%, in the U.S. 33%, in Romania 25%, in the U.K. 23%, and in France 20%.
Across all countries, an overwhelming majority of adults surveyed, (9-in-10 or more), believe it is important to continue teaching about the Holocaust. In the U.S. and Poland, this number was 96%, in the U.K. and Germany 94%, in France and Romania 93%, in Hungary 91%, and Austria 90%.
Likewise, there is a strong desire for Holocaust education in schools. The U.S. was the highest with 95% of all adults surveyed, 93% in Poland, 92% in the U.K., 91% in France, 88% in Hungary, 87% in Germany, 84% in Austria, and 78% in Romania.
To access the executive summary and top line data for this index , please visit: www.claimscon.org/country-survey
Survey Taskforce:
The Eight-Country Index of Holocaust Knowledge and Awareness taskforce was led by Claims Conference Board member Matthew Bronfman and comprised historians and subject matter experts from museums, educational institutions, and leading nonprofits in the field of Holocaust education, including Yad Vashem, the United States Holocaust Memorial Museum and the Claims Conference.
Taskforce members, including representatives from each of the countries, are as follows:
Task force Chair, Matthew Bronfman, Philippe Allouche, Jochen Boehler, Daniel Botmann, Ana Bǎrbulescu, Richelle Budd Caplan, Robert Ejnes, Shila Erlbaum, Alexandru Florian, Stuart Foster, Abraham Foxman, Jacques Fredj, Christian Fuhrmeister, Deborah Hartmann, Łucja Koch, David Marwell, Michael Feuer, Karen Pollock, Patrick Siegele, Gretchen Skidmore, Andrea Szőnyi, Galith Touati, Piotr Trojański, Felicia Waldman, Mark Weitzman, Robert Williams, Andras Zima
Survey Methodology and Sample:
The Eight-Country Index of Holocaust Knowledge and Awareness was commissioned by the Claims Conference. Data was collected by Global Strategy Group, with a representative sample of 1,000 adults in each country ages 18 and over between November 15, 2023, to November 28, 2023. Countries included: United States, the United Kingdom, France, Austria, Germany, Poland, Hungary, and Romania. The margin of error is +/- 3.1%.
For more information about the Claims Conference, please visit: www.claimscon.org
SOURCE Claims Conference
Technology
HOME SELLING PROFITS SLIDE AGAIN IN 2024 ACROSS U.S. DESPITE CONTINUED PRICE GAINS
Published
34 minutes agoon
January 23, 2025By
Profit Margins for Sellers Decrease for Second Straight Year;
Typical Seller Return Remains Near Record Highs, But Declines to 54 Percent;
Returns Dip Even as National Median Home Price Climbs to $350,000
IRVINE, Calif., Jan. 23, 2025 /PRNewswire/ — ATTOM, a leading curator of land, property data, and real estate analytics, today released its Year-End 2024 U.S. Home Sales Report, which shows that home sellers made a $122,500 profit on typical sales nationwide in 2024, generating a 53.8 percent return on investment.
But even as both measures remained near record levels, and home prices kept rising around the country, the profit margin on median-priced sales nationwide decreased from 56.9 percent from 2023. The drop-off marked the second straight annual decline – a pattern of consecutive downturns that hadn’t happened since the aftermath of the Great Recession in the late 2000s.
While the gross profit on median-priced single-family home and condo sales did inch up about $2,000 from 2023, the typical profit margin stood eight percentage points below a peak hit in 2022.
The downward investment-return trend continued despite the median national home price rising 5 percent to yet another annual record of $350,000. Margins fell back as the increase in home values failed to keep up with larger price spikes recent sellers had been paying when they originally bought their homes.
“After a weak 2023, the U.S. housing market mostly rebounded nicely in 2024. Prices went back up at a healthy clip and homeowners continued to make some of the best profits on sales in the past 25 years. The renewed shine, however, didn’t come without a bit of tarnish as margins took another turn for the worse,” said Rob Barber, CEO at ATTOM. “Amid the generally good news, that’s something worth following closely in 2025.”
He noted that “home prices are stretching household budgets more and more, and mortgage rates have been going back up in recent months even as other forces put more upward pressure on prices. So, there are certainly major factors that could propel the market up or settle it back down. Either will have a significant effect on seller returns.”
The price-and-profit picture, while mixed, reflected an ongoing housing market boom that has continued for 13 years in a row. Last year’s scenario emerged as buyers buoyed by rising wages, a strong investment market and mostly receding mortgage interest rates competed for a historically tight supply of homes. Nevertheless, the resulting price gains weren’t quite enough to push profits upward.
Among 127 metropolitan statistical areas with a population greater than 200,000 and sufficient sales data, sellers in more expensive markets around the U.S. generally reaped the highest returns on investment in 2024. Geographically, the Northeast, South and West regions led the way with 29 of the 30 highest ROIs. They were led by San Jose, CA (105.8 percent return on investment); Knoxville, TN (94.3 percent); Ocala, FL (87.1 percent); Seattle, WA (85.6 percent) and Scranton, PA (85 percent).
Historical U.S. Home Seller Gains
National median home price rises another 5 percent
After a weak annual gain of just 1.1 percent in 2023, the U.S. median home price increased another 4.9 percent in 2024, hitting the latest all-time high of $350,000. The typical 2024 price was almost 2 ½ times the nationwide median in 2011, a point in time right before the housing market began recovering from the Great Recession.
Amid the tight supply of properties for sale, median values went up last year in 115, or 91 percent, of the 127 metropolitan statistical areas around the U.S. reviewed for this report. Those with the biggest year-over-year increases were Evansville, IN (median up 13.4 percent); Augusta, GA (up 13.2 percent); Albany, NY (up 12.3 percent); Fort Wayne, IN (up 12.2 percent) and Scranton, PA (up 12.1 percent).
The largest median-price increases in metro areas with a population of at least 1 million in 2024 came in Hartford CT, (up 11.1 percent); New York, NY (up 9.6 percent); Rochester, NY (up 9.5 percent); Detroit, MI (up 9.5 percent) and Providence, RI (up 9.4 percent).
Typical home prices last year reached or tied records in 108 of the metros analyzed (85 percent), including New York, NY; Los Angeles, CA; Chicago, IL; Houston, TX, and Washington, DC.
Metro areas where median prices dropped most in 2024 were Birmingham, AL (down 8.3 percent); Ocala, FL (down 5.9 percent); Fort Myers, FL (down 4.3 percent); Lakeland, FL (down 2.8 percent) and Sarasota, FL (down 2.7 percent).
Profit margins decrease in three-quarters of nation, with worst declines in South
Profit margins on typical home sales went down from 2023 to 2024 in 93 of the 127 metro areas with sufficient data to analyze for investment returns (73 percent).
The 10 largest decreases in investment returns were all in the South, led by Fayetteville, AR (ROI down from 71.9 percent in 2023 to 51.3 percent in 2024); Ocala, FL (down from 105.7 percent to 87.1 percent); Sarasota, FL (down from 80.6 percent to 64.6 percent); Chattanooga, TN (down from 80.6 percent to 65.9 percent) and Crestview–Fort Walton Beach, FL (down from 60.1 percent of 45.9 percent).
The largest ROI losses from 2023 to 2024 in metro areas with a population of at least 1 million were in Birmingham, AL (ROI down from 44.3 percent to 33.5 percent); Tampa, FL (down from 80 percent to 69.8 percent); San Antonio, TX (down from 34.4 percent to 26.4 percent); Austin, TX (down from 46.5 percent to 39.5 percent) and Portland, OR (down from 70 percent to 63.6 percent).
The biggest increases in investment returns from 2023 to 2024 came in Syracuse, NY (ROI up from 56 percent to 69.3 percent); Rochester, NY (up from 61.9 percent to 72.3 percent); Evansville, IN (up from 34.6 percent to 44.7 percent); Cleveland, OH (up from 51.6 percent to 61.2 percent) and Akron, OH (up from 50.3 percent to 59.2 percent).
Aside from Rochester and Cleveland, metro areas with a population of at least 1 million and the best increases in profit margins in 2024 included Hartford, CT (up from 67.6 percent to 75 percent); Buffalo, NY (up from 75.6 percent to 82.6 percent) and San Jose, CA (up from 99.9 percent to 105.8 percent).
Sellers in more than half of U.S. still reaping gross profits above $100,000, with best levels in coastal markets
Despite the decline in profit margins across much of the country, gross profits on median-priced home sales in 2024 still topped $100,000 in 79, or 62 percent, of the metro areas with sufficient data to analyze.
The east and west coasts had 18 of the top 20 gross profits last year, led by San Jose, CA ($782,750); San Francisco, CA ($500,000); San Diego, CA ($372,000); Los Angeles, CA ($366,500) and Seattle, WA ($332,000).
The 20 smallest gross profits in 2024 were in the South and Midwest, reflecting lower home prices in many parts of those regions. The lowest gross profits were in McAllen, TX ($42,212); Peoria, IL ($43,500); Baton Rouge, LA ($45,180); New Orleans, LA ($46,750) and Birmingham, AL ($50,171).
Homeownership tenure rises to high point since 2000
Homeowners in the U.S. who sold in the fourth quarter of 2024 had owned their homes an average of 8.18 years, the longest tenure since at least 2000. The latest figure was up from 8.04 years in the third quarter of last year and from 7.8 years in the fourth quarter of 2023. Average seller tenures were up, year over year, in 74, or 72 percent, of the 103 metro areas with a population of at least 200,000 and sufficient data.
The biggest increases in average seller tenure from the fourth quarter of 2023 to the fourth quarter of 2024 were in Eureka, CA (up 19 percent); Sarasota, FL (up 16 percent); Bremerton, WA (up 14 percent); Ventura, CA (up 11 percent) and Chico, CA (up 10 percent).
Average U.S. Homeownership Tenure
The longest tenures for home sellers in the fourth quarter of 2024 were in Barnstable, MA (13.6 years); Bridgeport, CT (13.23 years); New Haven, CT (13.05 years); Ventura, CA (12.85 years) and Hartford, CT (12.69 years).
Cash sales at highest level since 2013
Amid mortgage rates that still were double where they stood three years ago, all-cash purchases accounted for 38.9 percent of single-family home and condo sales in 2024, or about one of every three. The latest portion, up from 38.1 percent in 2023, represented the highest level since 2013. It was up for the fourth straight year, although still off from the 44.7 percent peak this century in 2011.
Among 153 metropolitan statistical areas with a population of at least 200,000 and sufficient cash-sales data, those where cash sales represented the largest share of all transactions in 2024 included Myrtle Beach, SC (61.3 percent); Naples, FL (61.2 percent); Macon, GA (59.7 percent of sales); Warner Robins, GA (58.2 percent) and Utica, NY (57.9 percent).
Lender-owned foreclosure purchases virtually unchanged, remaining at one of lowest levels since 2005
Foreclosure sales to lenders accounted for just 1.4 percent, or one of every 72 single-family home and condo sales in 2024. That was the second lowest level since 2005. Last year’s figure was down slightly from 1.5 percent of sales in 2023 and far below a peak of 23.6 percent in 2009.
States where lender-purchased (REO) foreclosure sales comprised the largest portion of total transactions in 2024 were Louisiana (3.6 percent of sales), Hawaii (3.4 percent), Illinois (3.3 percent), Maryland (2.8 percent) and Michigan (2.6 percent).
Among metropolitan statistical areas with a population of at least 200,000 and sufficient data, those where lender-purchased foreclosure sales represented the largest portion of all sales in 2024 were Binghamton, NY (6.1 percent); Lake Charles, LA (5 percent); Macon, GA (5 percent); Peoria, IL (4.6 percent) and Warner Robins, GA (4.6 percent).
Metro areas with the smallest shares were Raleigh, NC (0.2 percent of sales); Denver, CO (0.3 percent); Myrtle Beach, SC (0.3 percent); Tucson, AZ (0.3 percent) and Phoenix, AZ (0.4 percent).
Institutional investing down again in 2024
Home purchases by institutional investors dropped for the third year in a row, declining from 6.9 percent in 2023 to 6.3 percent in 2024, or one of every 16 single-family home and condo sales in the U.S.
Among metropolitan statistical areas with a population of at least 200,000 and sufficient institutional-investor sales data, those with the highest portions of institutional-investor transactions in 2024 were Memphis, TN (15.1 percent of sales); Huntsville, AL (12.5 percent); Birmingham, AL (12.4 percent); Fayetteville, NC (11.1 percent) and Columbus, GA (11.1 percent).
Historical U.S. Home Sales By Type
FHA sales dip slightly
Nationwide, buyers using Federal Housing Administration (FHA) loans accounted for 8.4 percent, or one of every 12 single-family home and condo purchases in 2024. That was down from 8.8 percent in 2023, marking the fourth drop-off in the last five years.
Among metropolitan statistical areas with a population of at least 200,000 and sufficient FHA-buyer data last year, those with the highest share of purchases made with FHA loans were Merced, CA (24 percent of sales); Bakersfield, CA (22 percent); Lakeland, FL (21.1 percent); Visalia, CA (20.5 percent) and Modesto, CA (19.4 percent of sales).
Report methodology
The ATTOM U.S. Home Sales Report provides percentages of distressed sales and all sales that are sold to investors, institutional investors and cash buyers in states and metropolitan statistical areas. Data is also available at the county and zip code level upon request. The data is derived from recorded sales deeds, foreclosure filings and loan data. Statistics for previous quarters are revised when each new report is issued as more deed data becomes available.
Definitions
All-cash purchase: sale where no loan is recorded at the time of sale and where ATTOM has coverage of loan data.
Homeownership tenure: for a given market and given quarter, the average time between the most recent sale date and the previous sale date, expressed in years.
Home seller price gains: the difference between the median sales price of homes in a given market in a given quarter and the median sales price of the previous sale of those same homes, expressed both in a dollar amount and as a percentage of the previous median sales price.
Institutional investor purchases: residential property sales to non-lending entities that purchased at least 10 properties in a calendar year.
REO sale: a sale of a property that occurs while the property is actively bank owned (REO).
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 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
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