The gross profit on median-priced single-family home and condo sales increased about $2,000 from 2023. Even though the typical profit margin stood eight percentage points below a peak hit in 2022, gross profits on median-priced home sales in 2024 still topped $100,000 in 79, or 62%, of the metro areas with sufficient data to analyze.
“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.”
Barber also 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.”
Sellers in more expensive markets around the U.S. generally reaped the highest returns on investment in 2024, per data analyzed from the 127 metropolitan statistical areas with a population greater than 200,000. San Jose, Calif. posted the highest ROI with a 105.% return and was followed by Knoxville, Tenn. (94.3%) and Ocala, Fla. (87.1%).
The report also noted that the national median home price rose 4.9% throughout 2024, hitting the latest all-time high of $350,000 — almost 2 ½ times the nationwide median in 2011. However, ATTOM noted that this is a modest increase compared to rapid price increases in the two years following the pandemic.
Out of metro areas with a population of at least 1 million, Hartford, Connecticut saw the largest median price increase, with prices up 11.1%. Hartford was followed by New York City (up 9.6%) and Rochester, New York (up 9.5%).
