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Resale activity and profits to increase in Q1 2024

by xyonent
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according to ATTOM’s Latest U.S. Home Resale Report In the first quarter of 2024, 67,817 single-family homes and condominiums were resold, accounting for 8.7% (1 in 12) of total home sales in the first quarter. ATTOM says that as resale rates rise, the fortunes of investors who buy homes and quickly flip them continue to improve. According to the company’s data, on homes sold in the first quarter, home resellers typically made a gross profit before expenses of 30.2% nationwide, the third of four quarters in which profit margins increased after six years of nearly uninterrupted declines. Indeed…

“The latest figures show that investors are still facing challenges in making a significant profit after expenses. Like everyone else, they are facing volatile times as the housing market has cooled off over the past year. However, looking at trends over the past year, there are clear signs that the property resale industry is beginning to pick up and interest in the market is growing,” said Rob Barber, CEO of ATTOM.

Click here to read the full ATTOM report.

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