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HOME FLIPPING DECLINES AGAIN ACROSS U.S. IN 2024 AS PROFITS REMAIN LOW

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Flipping Activity by Investors Drops for Second Straight Year, Down 32 Percent Over That Time;Investment Returns Inch Upward but Still Sit Near Low Point Over Past Decade;Almost Two-Thirds of Flipped Homes Purchased with Cash

IRVINE, Calif., March 20, 2025 /PRNewswire/ — ATTOM, a leading curator of land, property data, and real estate analytics, today released its year-end 2024 U.S. Home Flipping Report, which shows that 297,885 single-family homes and condos in the United States were flipped in 2024. That was down 7.7 percent from 322,782 in 2023 and 32.4 percent from a recent peak of nearly 441,000 reached in 2022.

The report further reveals that as the number of homes flipped by investors declined, so did flips as a portion of all home sales, from 8.1 percent in 2023 to 7.6 percent last year.

In one small potential bright spot for the home-flipping industry, profits and profit margins rose slightly in 2024 on typical buy-renovate-and-resell projects. But margins again remained at one of their low points over the past 10 years as investors continued struggling to take advantage of the nation’s housing market boom.

Gross profits on typical home flips in 2024 increased to $72,000 nationwide (the difference between the median sales price and the median amount originally paid by investors). That was up from $67,846 in 2023 and translated into a 29.6 percent return on investment compared to the original acquisition price.

The latest nationwide return on investment (before accounting for mortgage interest, property taxes, renovation expenses and other holding costs) was up from 28.6 percent in 2023 and from 29.4 percent in 2022. But it remained barely more than half of the 54.2 percent peak over the past decade in 2016.

Investors saw their profit margins tick upward as the median price of the homes they flipped increased slightly faster than the median price they had paid to purchase properties – 3 percent versus 2 percent.

“The home-flipping industry saw investors shy away even more in 2024 amid the extended period of languishing profits. But even as activity waned, there was at least a glimmer of hope that returns were starting to turn around,” said Rob Barber, CEO at ATTOM. “While home flippers still seemed to be having difficulty timing the market for big profits, their margins at least stopped going in the wrong direction.”

He added that “this year poses significant uncertainty for investors, what with a short supply of homes for sale, declining numbers of low-priced foreclosure properties, mixed economic forecasts and elevated mortgage rates. So, they will have to do some very smart buying and quick renovating to keep the profit rebound going.”

Despite the small gain in profits in 2024, home-flipping continued to stand out as a niche of the U.S. housing market that has seen its fortunes tumble even as the broader market has mostly boomed.

Home flipping rates drop in two-thirds of U.S., with biggest decreases in the South and West
Home flips as a portion of all home sales decreased from 2023 to 2024 in 145 of the 213 metropolitan statistical areas analyzed in the report (68 percent).

The largest year over year declines in flipping rates in metro areas with a population of 1 million or more were in Charlotte, NC (down 18.5 percent from last year); Jacksonville, FL (down 16.9 percent); New Orleans, LA (down 16.4 percent); Denver, CO (down 15 percent) and Miami, FL (down 13.6 percent).

Metro areas with a population of 200,000 or more and at least 100 home flips in 2024, where home flipping rates increased from 2023 to 2024, were led by Cedar Rapids, IA (up 49.6% from last year); Bellingham, WA (up 28.2%); Warner Robins, GA (up 26.8%); Merced, CA (up 24.5%); and NorwichNew London, CT (up 23.4%).

2024 Year-End Home Flipping Rate Chart

Home flips purchased with financing dip downward
Nationally, the percentage of flipped homes originally purchased by investors with financing decreased in 2024 to 36.8 percent, down from 37.8 percent in 2023 although still up from 35.6 percent in 2022.

Meanwhile, 63.2 percent of homes flipped in 2024 were originally bought with cash only, up from 62.2 percent in 2023 but down from 64.4 percent two years earlier.

Among metropolitan areas with a population of 1 million or more and sufficient data to analyze, those with the highest percentage of flipped homes in 2024 that had been purchased by investors with financing included San Diego, CA (59 percent); Seattle, WA (58.1 percent); Fresno, CA (50.6 percent); Providence, RI (49.9 percent) and San Francisco, CA (49.9 percent).

In that same group, the metro areas with the highest percentage of flips purchased with all cash included Buffalo, NY (81 percent); Cleveland, OH (77.4 percent); Detroit, MI (76.5 percent); Birmingham, AL (75.7 percent) and Pittsburgh, PA (73.8 percent).

Typical gross profits on home flips grow in nearly two-thirds of nation
Homes flipped in 2024 were sold for a median price nationwide of $315,000, generating a gross flipping profit of $72,000 above the median original purchase price paid by investors of $243,000. That national gross-profit figure was up from $67,846 in 2023 but still down slightly from $72,750 in 2022, which was the second-highest level this century.

Gross profits grew in 141, or 66 percent, of the 213 metro areas across the U.S. with sufficient data to analyze.

Among the 56 metro areas in the U.S. with a population of 1 million or more, those with the largest gross flipping profits on median-priced transactions in 2024 were San Jose, CA ($283,000 profit); San Francisco, CA ($218,000); New York, NY ($175,000); San Diego, CA ($175,000) and Washington, DC ($170,000).

The weakest gross flipping profits among metro areas with a population of at least 1 million in 2024 were in Austin, TX ($8,844 profit); San Antonio, TX ($17,832); Houston, TX ($20,846); Dallas, TX ($24,233) and Kansas City, MO ($39,709).

2024 Year End U.S. Home Flipping Gross Profits & Returns Chart

Home flipping returns up in roughly half of metro-area markets
The profit margin on the typical home flips around the U.S. last year rose to 29.6 percent but still stood at the third-lowest level since 2008. The ROI on median-priced home flips nationwide has dropped 16 percentage points since 2020 and is off by 25 points since the highwater mark over the past decade hit in 2016.

Margins increased last year as the median nationwide resale price on flipped homes went up 3.3 percent, from $305,000 in 2023 to $315,000 in 2024. That represented a slightly larger increase than the 2.5 percent rise in the price investors had originally paid for properties they flipped ($237,154 for homes flipped in 2023 versus $243,000 in 2024).

The typical home-flipping investment return improved from 2023 to 2024 in 116, or 54 percent, of the metro areas analyzed.

Among metro areas with a population of 1 million or more, the biggest percentage-point increases in profit margins on median-priced flips during 2024 were in Cleveland, OH (ROI up from 39.2 percent in 2023 to 72 percent in 2024); Buffalo, NY (up from 83.9 percent to 109.1 percent); Rochester, NY (up from 60.2 percent to 71.5 percent); St. Louis, MO (up from 34 percent to 45.1 percent) and Memphis, TN (up from a 58.2 percent profit to 66.7 percent).

In that same group of markets with populations of at least 1 million, the largest decreases in returns on investment for typical home flips came in Philadelphia, PA (ROI down from 82.4 percent in 2023 to 68.4 percent in 2024); Hartford, CT (down from 59 percent to 45.7 percent); Pittsburgh, PA (down from 123.7 percent to 110.9 percent); Richmond, VA (down from 81.7 percent to 69.7 percent) and Detroit, MI (down from 66.7 percent to 59.2 percent).

Among metro areas with a population of at least 1 million, the biggest gross profit margins in 2024 were in Pittsburgh, PA (110.9 percent profit); Buffalo, NY (109.1 percent); Baltimore, MD (76.3 percent); Cleveland, OH (72 percent) and Rochester, NY (71.5 percent).

Average time to flip nationwide decreases
Home flippers who sold homes in 2024 took an average of 162 days, or about 5 ½ months, to complete the flips. That was down from 169 days for homes flipped in 2023 and 165 days in 2022.

2024 Year End U.S. Average Flip Days Chart

Portion of flipped homes sold to FHA remains about the same
Of the 297,885 U.S. homes flipped in 2024, 10.7 percent, or one of every nine, were sold to buyers using a loan backed by the Federal Housing Administration (FHA). That was virtually the same as the 10.8 percent level in 2023 but up from 8.4 percent in 2022.

Among the 213 metro areas with a population of at least 200,000 and at least 100 home flips in 2024, those with the highest percentage of flipped homes sold in 2024 to FHA buyers — typically first-time home purchasers — were Merced, CA (38.3 percent); Lakeland, FL (27 percent); Bakersfield, CA (25.9 percent); Yuma, AZ (24.6 percent) and Visalia, CA (24.4 percent).

Home flipping rates were at least 10 percent in 160 counties during 2024
Among 870 counties with at least 50 home flips in 2024, there were 160 where flips accounted for at least 10 percent of all home sales last year. The top five were all in Georgia: Houston County (Warner Robins) (23.1 percent); Cobb County (Marietta) (22.5 percent); Clayton County (outside Atlanta) (19 percent); Douglas County (outside Atlanta) (18.6 percent) and Dawson County (outside Marietta) (18.4 percent).

High-level takeaways from fourth-quarter 2024 data:

The 69,929 home flips in the fourth quarter of 2024 were completed by 54,502 investors, a ratio of 1.28 flips per investor.The share of homes flipped in the fourth quarter of 2024 that were purchased by investors with financing represented 36.2 percent of all homes flipped in the quarter – almost the same as the 36.1 percent figure in the previous quarter but down from 37.3 percent in the fourth quarter of 2023. The share purchased with cash remained about the same – 63.8 percent, compared to 63.9 percent in the third quarter of 2024 but up from 62.7 percent in the fourth quarter of 2023.The gross-flipping profit on median-priced home flips in the fourth quarter of 2024 was $66,100. That was down from $70,000 in both the third quarter of last year and the fourth quarter of 2023. The latest figure represented a typical 26.5 percent return on investment (percentage of original purchase price). That was down from 28.6 percent in the previous quarter and from 30.4 percent in late-2023.The latest ROI marked the third-lowest quarterly result in the past 10 years.Home flips completed in the fourth quarter of 2024 took an average of 157 days, up one day from 156 in the fourth quarter of 2023.

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 a property’s after-repair value). Gross flipping returns on investment was calculated by dividing the gross flipping profit by the first sale (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:
949.502.8313
datareports@attomdata.com

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Northern Hemisphere Heat Drives Demand for Cooling and Sun-Protection Products on Yiwugo

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YIWU, China, July 24, 2026 /PRNewswire/ — Yiwugo.com, the official website of the Yiwu Commodity Market, is the largest commodity wholesale market in the world. The final whistle may have blown on the World Cup, but the intense heat gripping the Northern Hemisphere shows no sign of letting up. Europe has experienced unusually hot weather this year, sparking not only a surge in demand for air conditioners but also a boom in portable handheld fans. Merchants on Yiwugo say that in previous years, European customers would begin placing orders in March or April and take their time completing their annual procurement. This year, however, the purchasing season has stretched well into summer, with a flood of new buyers coming in, most of them looking for small handheld fans. With customers eager to capitalize on the peak summer season, delivery timelines have also become significantly tighter. Whereas orders in previous years could generally be fulfilled within a month, merchants are now frequently being asked to deliver within about a week, leaving manufacturers scrambling to keep pace with demand.

Lingpan Official Flagship Store has specialized in the production and sales of small fans, insulated cups, and related products for 15 years. This summer, demand from European customers for high-speed small fans has risen sharply, accompanied by urgent delivery requirements. Many customers began requesting shipment just one week after placing their orders, hoping the products would arrive in time for the World Cup and the ongoing heatwave across Europe. One long-standing European customer purchased only five models of small fans from Lingpan last year. Anticipating stronger demand ahead of this summer, the customer expanded the order to 10 models. The first shipment sold out soon after arriving at port, prompting several subsequent repeat orders. European buyers have shown particular interest in high-speed cooling fans and placed great requirements on product quality. So far this year, Lingpan’s fan sales have more than doubled compared with the same period last year, with total purchases reaching approximately RMB 1 million.

Beyond Europe, the owner of Lingpan, Ling Pan pointed out that the Indian market has also undergone significant changes over the past two years. Indian customers are showing great interest in panda-shaped fans, drinking cups, and related products. Procurement volumes among many Indian buyers have increased substantially, with average annual purchases now reaching several hundred thousand yuan.

Unlike European countries grappling with sudden heat waves, Asian markets such as Japan and South Korea, where summers are consistently hot and air conditioners and fans are already everyday essentials, have shown much stronger demand for sun-protection products. From April 1, 2026 to date, sales of sun-protection masks on Yiwugo have increased by 31.6% YoY, while sales of sun-protection face shields surged by 72.42% and sun hats rose by 8.1%.

Chen Jia, a Yiwugo merchant, has engaged in the production and sales of sun-protection masks and sun-protection face shields for eight years. Chen operates the Xiao Zhen and Xiao Mian Sun-Protection Products Workshop in District 4 of the Yiwu International Trade Market. In recent years, the company has customized cooling nylon fabrics for customers in Japan and South Korea. Sun-protection masks and sun-protection face shields made from this material not only offer UPF 50+ protection, but also maintain a more structured shape and are less susceptible to snagging or deformation. Their protective performance remains effective after routine washing, and the products can last for more than five years under normal use.

In 2024, a TV shopping operator from South Korea contacted Xiao Zheng and Xiao Mian through Yiwugo and began placing orders after inspecting the products in person. Over the following two years, the company continued to improve the fitness and design of its sun-protection products. It introduced sun-protection face shields with breathable mesh panels and incorporated soft supports around the nose area to prevent the masks from rubbing against lipstick. These product upgrades have steadily driven up customer ratings on the client’s store. Annual procurement, initially valued at around RMB 300,000, has risen year by year, and the company has since developed into a recognized brand in the local market.

Persistent heat across the Northern Hemisphere has been creating new forms of cross-border consumer demand while enabling Yiwugo merchants to keenly capture shifts in overseas markets. From the strong sales of small portable fans in Europe to the rising demand for functional sun-protection products in Japan and South Korea, the diversity of orders reflects both consumers’ need for relief from extreme heat and the ability of Yiwu manufacturers to strengthen their presence in global markets through product innovation and rapid fulfillment. Faced with a rapidly changing international market, many merchants are continuing to refine product designs, upgrade fabric techniques, and enhance supply efficiency. By leveraging Yiwugo to broaden their export channels, they are keeping pace with overseas consumption trends and capitalizing on the expanding market for cooling and sun-protection products, turning the summer heat into new momentum for cross-border trade.

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Snorkel AI Highlights First Wave of Open Benchmarks Grants Projects

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SAN FRANCISCO, July 24, 2026 /PRNewswire/ — Snorkel AI today highlighted the first group of projects supported through Open Benchmarks Grants, a $3 million commitment to support open-source datasets, benchmarks, and evaluation research.

Launched in February 2026, Open Benchmarks Grants has received hundreds of applications from researchers, labs, and engineers working to address a growing challenge: AI systems are advancing faster than the field’s ability to rigorously measure their performance on realistic, consequential work.

“From complex environments and huge autonomy horizons to rich, sophisticated outputs, these projects tackle some of the field’s hardest evaluation challenges,” said Fred Sala, a member of the Open Benchmarks Grants steering committee and assistant professor at the University of Wisconsin–Madison. “I’m excited to see the broader research community use, validate, and build on them.”

Open Benchmarks Grants provides selected teams with funding, expert data development support, research and engineering collaboration, and platform resources. Supported projects include:

Frontier-Bench (formerly Terminal-Bench 3.0), developed with Laude Institute and the Harbor community, is a harder, more domain-diverse successor to Terminal-Bench 2.1 — built in the open, task by task, under continuous adversarial review.Agents’ Last Exam, developed with UC Berkeley RDI and the RDI Foundation, evaluates agents on long-horizon, economically valuable professional workflows. It spans 55 sub-industries and includes more than 1,500 tasks toward a 5,000-task target, sourced and validated by more than 300 industry experts.OSWorld 2.0, developed with XLANG Lab, evaluates computer-use agents on 108 long-horizon workflows across 31 self-hosted web environments and professional desktop applications.Continual Learning Bench, developed with UC Berkeley SkyLab and the University of Wisconsin–Madison, measures whether agents genuinely improve across sequential, stateful tasks.SlopCode Bench, developed with the University of Wisconsin–Madison, measures how code quality degrades as coding agents repeatedly modify and extend their own solutions.Terminal-Bench 2.1, developed with Stanford University, Laude Institute and the Harbor community, evaluates agents on challenging work in terminal environments. The release corrected 28 tasks and introduced continuous validation.

With support from Open Benchmarks Grants, Terminal-Bench Science is also now in development, extending the Terminal-Bench framework to computational research workflows across the life, physical, earth, and mathematical sciences.

Beyond the grants program, Snorkel led the development of Senior SWE-Bench with the research teams at Princeton University and the University of Wisconsin–Madison. The benchmark evaluates coding agents on senior-level engineering work, including implementing features from realistic instructions, investigating bugs that require runtime analysis, and producing code that follows existing codebase conventions.

Open Benchmarks Grants was established with support from Hugging Face, Prime Intellect, Together AI, Factory, Harbor, and PyTorch. Applications remain open and are reviewed on a rolling basis.

Learn more and apply for a grant at benchmarks.snorkel.ai.

About Snorkel AI
Snorkel AI is the frontier AI data lab, helping teams build the data and environments behind high-performing frontier and agentic AI. We combine technology with research-driven AI data development to create datasets, benchmarks, evals, and custom solutions for real-world AI systems. Founded out of the Stanford AI Lab in 2019, Snorkel works with leading AI labs and enterprises to move from better data to better outcomes. 

media@snorkel.ai

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Payzli Vaults to No. 3 on Tampa Bay’s Fast 50, Up From No. 22 in One Year

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Payments technology company, Payzli earns a second consecutive Fast 50 ranking, crediting the climb to accelerating partner and merchant growth on its proprietary technology stack.

TAMPA, Fla., July 24, 2026 /PRNewswire/ — Payzli, the partner-first payments technology company, has been named the No. 3 fastest-growing company in the region on the Tampa Bay Business Journal’s 2026 Fast 50 – a 19-spot climb from its No. 22 debut last year, and the company’s second consecutive year on the list.

The ranking was announced July 23 at the Tampa Bay Business Journal’s Fast 50 event in Tampa, where Co-Founder and Chief Revenue Officer Naim Hamdar accepted the award alongside members of the Payzli team.

Payzli attributed its growth to a compounding effect: a national network of ISOs, agents and ISVs bringing merchants onto a technology platform Payzli built and operated in-house. 

That platform rests on three proprietary pillars:

Payzli Connect: the company’s payment CRM and merchant-and-partner dashboard, giving agents and ISOs daily residuals visibility and giving merchants a single place to run their account.Payzli POS: AI-powered point-of-sale and business software purpose-built for service businesses, including salons, med spas, wellness studios, and independent operators.Payzli Transact: an online payment gateway built on Visa Platform Connect through Payzli’s partnership with Visa Acceptance Solutions.

The Visa Acceptance Solutions partnership is central to how Payzli frames its credibility: rather than assembling a growth story on top of borrowed infrastructure, the company processes on rails backed by one of the most established networks in the industry alongside Fiserv and TSYS – a point that matters to the partners and merchants deciding where to place their volume.

“A second year on this list, and a jump to No. 3, isn’t about one good quarter. It’s about a network deciding to build with us and stay,” said Naim Hamdar, Co-Founder and Chief Revenue Officer of Payzli. “Every rank on this list represents partners we’ve earned and merchants who trust us to run their payments. We built the technology in-house so we could keep the promises the industry usually breaks: nothing hidden, a real person in reach, and daily residual visibility our agents can actually count on. That’s what this ranking measures and it’s why we’re doing it all, for the joy of business.”

“They say nothing in Tampa moves fast except the afternoon thunderstorms, so making the Fast 50 two years running feels pretty good,” said Kapil Pershad, Co-Founder and Chief Technology Officer of Payzli. “In all seriousness, this is a credit to our team and the businesses that trust us to power their growth.”

The Fast 50, produced by the Tampa Bay Business Journal, recognizes the fastest-growing private companies in the Tampa Bay region. Payzli’s return to the list and its move into the top three reflects a merchant-first product suite and a rapidly expanding national partner network across the payments and embedded-finance landscape.

About Payzli

Payzli is an end-to-end payments technology partner that makes accepting payments simpler and affordable for businesses of all sizes and risk levels. Founded in 2020 and headquartered in Tampa, Florida, Payzli brings together in-person processing, an advanced online gateway, AI-powered point of sale, and mobile and contactless payments – backed by its own technology, honest pricing, and dedicated human support. Built partner-first, Payzli equips ISOs, agents, developers, and independent software vendors to grow, with direct integrations to major processing platforms, in-house underwriting, a flexible credit policy, a Visa Acceptance Solutions foundation partnership, and sponsor-bank backing from Esquire Bank, a NASDAQ-listed strategic investor in Payzli. For more information, email partners@payzli.com or visit payzli.com.

Payzli is a registered trademark of United Payment Systems LLC. United Payment Systems LLC is a registered ISO of Esquire Bank (Jericho, NY), Commercial Bank of California (Irvine, CA), and KeyBank, National Association (Cleveland, OH).

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