Markets Where Single-Family Home Sales Made the Most Profit

The slippage in home prices and profit margins raises the question of where the housing market is heading.

Nationwide, median home prices slipped in the first quarter of 2024 and profit margins followed suit. The national median home price slid 4.3% from $435,000 to $330,000 in the quarter and the profit margin dipped from 57.1% in 4Q2023 to 55.3%.

The drop in home prices was one of the worst quarterly declines in the past decade, and this was the second consecutive quarter of lower investment returns. Even so, both prices and profit margins remained higher than they have been during most of the past decade. Indeed, the typical gross profit on typical homes sales nationwide was $120,500 in the first months of 2024, according to a new report by ATTOM.

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Philippa Maister

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