Technology

HOME SELLING PROFITS SLIDE AGAIN IN 2024 ACROSS U.S. DESPITE CONTINUED PRICE GAINS

Published

1 year ago

January 23, 2025

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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Technology

VYLIT OPENS ITS CREATOR ADVISORY BOARD, GIVING CREATORS EQUITY IN THE PLATFORM

Published

37 minutes ago

July 23, 2026

Reality star & chef Dom DeAngelis, model & creator Cydney Moreau, and creator-entrepreneur Crystal Jackson named as founding members, with applications now open for creators who want a voice in how the platform is shaped

MIAMI, July 23, 2026 /PRNewswire/ — Vylit, the 18+ creator-first social platform co-founded by Ami Gan, former CEO of OnlyFans, and seasoned entrepreneur Kailey Magder, is opening applications for its Creator Advisory Board, which will include a select group of creators that will have a strong voice in shaping the platform they use and earn on.

Vylit is inviting creators not just to join the platform, but to help build it, with real shares in the company reserved for those who contribute to its growth, culture and direction. The Creator Advisory Board will give creators a direct voice in building Vylit’s community, the platform’s development and creator tools, along with ownership in the business they’re helping grow.

Applications are now open. Creators can apply by emailing vylit@vylitworld.com with their name, bio and social handles.

Vylit is launching the board with three founding members who show the range of creators it’s built for.

Dominic DeAngelis, known from YouTube and Vanderpump Villa, where his culinary skills earned recognition from viewers around the world, has been using the platform to share behind-the-scenes and day-in-the-life content with his subscribers — the kind of direct, monetized relationship with fans that Vylit is designed around.

“Social media sucks right now. The algorithms are negative, you don’t even see the people you follow anymore, and creators are struggling to find real connections with their fans,” said DeAngelis. “I’m thrilled to be part of a platform that’s doing it differently. Vylit is actually listening to creators and building with us, not just for us.”

Cydney Moreau, a Louisiana-born former track athlete turned model and creator with a following across fitness, fashion and lifestyle, balances her work with life as a mom. Vylit is where she’s turning that following into a business for the first time, on her own terms.

“As someone who is monetizing my content for the first time, knowing that I will have a say in how the platform treats other creators means everything,” said Moreau. “It’s not every day a platform actually wants creators in the room while they’re building it. Knowing Vylit is making decisions with our interests at heart gives me the confidence to build here, and I’m excited to help shape where this goes.”

Crystal Jackson, known to millions of followers as Mrs. Poindexter, is the co-founder of EssentL, a company building business infrastructure and benefits for creators. A former engineer turned multi-platform creator and entrepreneur, she brings an operator’s understanding of what creators actually need from the platforms they build on.

“I’ve spent years building an audience and a business across platforms that weren’t built for today’s creator ecosystem,” said Jackson. “What drew me to Vylit is that they’re handing creators actual ownership and a real say in the decisions that affect us. That’s not something I’ve seen anyone else do, and I want to help build it right.”

Since launching, Vylit has positioned itself as the “HBO of social media,” a space between traditional social media and adult subscription platforms, where creators can be expressive, marketable and in control. The Creator Advisory Board takes that further. Rather than building the platform for creators and handing it over, Vylit is building it with them, giving them direct ownership and a say in its direction.

“The users driving value should have a say in the business,” said Ami Gan, Co-Founder and CEO of Vylit. “Creators understand culture and digital monetization better than anyone. At Vylit, that expertise earns them a real seat at the table.”

“We didn’t want to build another platform where creators show up after the fact,” added Kailey Magder, Co-Founder and COO of Vylit. “We want them involved from day one, shaping the product, the community and the direction of the business.”

Vylit truly puts creators in charge, giving them real ownership and a direct say in how the platform evolves. The Creator Advisory Board is just the start.

To learn more, visit https://vylitworld.com/

To access the media kit, click here.

ABOUT VYLIT
Vylit is an 18+ creator-first social platform redefining how adults share, discover and monetize content. Co-founded by Amrapali (Ami) Gan and Kailey Magder, Vylit was created to fill the gap between traditional social media and creator platforms, offering a premium digital experience for expression. Built as “the HBO of social media,” the platform allows topless content while prohibiting explicit material, giving creators greater freedom. Vylit combines social connectivity with built-in monetization, interest-based discovery through its Vybe Matching Engine, and in-house AI Image Generation and Chat tools designed for its users. Learn more at www.vylitworld.com.

FOR PRESS INQUIRIES
pr@vylitworld.com

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Technology

CNBC Names PayJoy one of the World’s Top FinTech Companies of 2026

Published

37 minutes ago

July 23, 2026

Recognition highlights PayJoy’s leadership in emerging market consumer finance

SAN FRANCISCO, July 23, 2026 /PRNewswire/ — CNBC and Statista have named PayJoy to the “World’s Top Fintech Companies 2026,” which honors companies providing digital funding and bank-independent lending solutions for individuals and businesses. PayJoy is a leading financial services provider for underserved consumers across emerging markets.

Now in its fourth edition, the ranking identifies 500 leading companies across eight fintech market segments worldwide, including Payments, Neobanking, Wealth Technology, Digital Assets, Enterprise Fintech, Insurtech, Regtech, and Alternative Financing. Companies were evaluated using an aggregated scoring model built on both general and segment-specific KPIs, drawing on desk research from publicly available sources alongside company self-reports submitted through an open application process.

PayJoy’s inclusion reflects its work bringing credit access to the emerging middle class in Mexico, Colombia, Brazil, Panama, Peru, Ecuador, South Africa, the Philippines, and Indonesia, nine countries where traditional financial infrastructure has long excluded first-time borrowers.

“This recognition from CNBC and Statista is a meaningful validation of the work our team does every day,” said Doug Ricket, PayJoy CEO and Co-Founder. “Millions of people across the markets we serve are building credit for the first time through PayJoy. Being named among the world’s top fintech companies reflects the scale and impact of that work.”

For more information on the full ranking, visit https://www.cnbc.com/worlds-top-fintech-companies-2026/

About PayJoy
PayJoy expands credit access across emerging markets through point-of-sale financing and card offerings. Its proprietary secured-credit technology enables first-time borrowers to responsibly build financial stability and participate fully in the modern economy. Through its cutting-edge machine learning, data science, and anti-fraud AI, PayJoy has financed over $3.5 billion of loans to more than 20 million people and employs over 1,000 people worldwide. For more information, visit https://www.payjoy.com/

Contact
payjoy@thekeypr.com

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Technology

Youngstown Innovation Hub Breaks Ground at YBI’s 107 Building

Published

37 minutes ago

July 23, 2026

YOUNGSTOWN, Ohio, July 23, 2026 /PRNewswire/ — As the United States works to strengthen its aerospace and defense manufacturing base, the Youngstown Innovation Hub for Aerospace & Defense broke ground today on YBI‘s 107 Building in downtown Youngstown, positioning the region as a national proving ground for advanced and additive manufacturing. The Hub is managed by the National Center for Defense Manufacturing and Machining (NCDMM).

Youngstown Innovation Hub for Aerospace & Defense breaks ground at YBI’s 107 Building.

The Hub is one of four Innovation Hubs established across Ohio as part of a statewide initiative to strengthen innovation-driven economic growth. Once complete, it is projected to generate approximately $161.6 million in economic impact, create 450 new jobs, and produce 185 new STEM credential opportunities and 40 internship opportunities by 2029.

The groundbreaking comes as Ohio was recently ranked the No. 1 state for business in America by CNBC’s 2026 America’s Top States for Business rankings, up from No. 5 in 2025.

Ohio Lt. Governor Jim Tressel attended and delivered remarks at the ceremony.

“Today is about more than renovating a building. It’s about building opportunity for Ohioans,” said Lt. Governor Tressel. “The Mahoning Valley has always been defined by the people who make things, solve problems, and never stop working toward a better future. This Innovation Hub builds on that proud tradition while preparing the next generation for in-demand careers in manufacturing.”

Hub and YBI leadership also spoke at the ceremony.

“Today’s groundbreaking of the Youngstown Innovation Hub represents much more than the start of a building renovation. It reflects what can happen when state, regional, industry, academic, and community partners come together around a shared vision for the future of manufacturing, aerospace and defense innovation,” said Megan Malara, Ph.D., director of the Youngstown Innovation Hub.

The renovation is made possible in part by a $750,000 state capital investment. Ohio State Sen. Al Cutrona and state Rep. Lauren McNally were credited with helping advance the funding request through the legislative process. YBI also recognized the broader Lake to River legislative delegation, including state Reps. Nick Santucci, Tex Fischer, Monica Robb Blasdel, Dave Thomas, and Sarah Fowler Arthur, for their support, as well as U.S. Sens. Jon Husted and Bernie Moreno for their support of the project in the U.S. Senate.

Speakers at the ceremony included Ohio Lt. Gov. Jim Tressel; Lydia Mihalik, director of the Ohio Department of Development; Mary Mertz, director of the Ohio Department of Natural Resources; Julius Oliver, 1st Ward Councilman for the City of Youngstown; State Sen. Al Cutrona; State Rep. Nick Santucci; State Rep. Lauren McNally; and Megan Malara, Ph.D., director of the Youngstown Innovation Hub. Barb Ewing, CEO of YBI, served as master of ceremonies.

The City of Youngstown, which committed $1.35 million in local matching funds to the project, was represented at the ceremony. John Wilczynski, executive director of America Makes, attended, and Barb Ewing recognized Kimberly Gibson and Alexander Steeb of America Makes for their roles in advancing the project.

Upon completion, the five-story, 130,000-square-foot concrete-framed building will offer flexible space for offices, workspaces, and display areas, along with robust power capacity to support multiple high-demand tenants. The building’s security features, including limited access points and naturally separated manufacturing bays, are designed to meet U.S. Department of War contracting criteria, positioning tenants to compete directly for federal defense work.

“It’s great to finally be transitioning from talking about this project to actually working on it. We appreciate all the support we’ve had from our political leaders and the community. YBI is proud to be a part of the project team that’s changing the trajectory of the Mahoning Valley,” said Barb Ewing, CEO of YBI.

Companies looking to expand, relocate, or enter the aerospace and defense manufacturing sector are encouraged to visit the Youngstown Innovation Hub website at youngstownhub.us.

About the Youngstown Innovation Hub for Aerospace & Defense

Managed by the National Center for Defense Manufacturing and Machining (NCDMM), the Youngstown Innovation Hub is a national proving ground for advanced and additive manufacturing, strengthening U.S. aerospace and defense supply chains and workforce development. Learn more at youngstownhub.us.

About YBI

YBI is a globally recognized economic development nonprofit, advancing innovation and growth across Ohio and beyond. Through a flexible suite of high-quality entrepreneurial services and resources, YBI supports startups, small businesses, and manufacturers at every stage of development. For more information, visit ybi.org.

Media Contact:
Jessica Sprowl, Marketing and Communications Director, YBI
jsprowl@ybi.org

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