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IRVINE, Calif., May 9, 2024 /PRNewswire/ -- ATTOM, a leading curator of land, property, and real estate data, today released its first-quarter 2024 U.S. Home Equity & Underwater Report, which shows that 45.8 percent of mortgaged residential properties in the United States were considered equity-rich in the first quarter, meaning that the combined estimated amount of loan balances secured by those properties was no more than half of their estimated market values.
Key Points:
- The latest figure also was down from 47.2 percent in the first quarter of 2023, hitting the lowest point in two years.
- When prices flatten out or drop, equity usually follows even as homeowners pay off mortgages.
- Measured annually, equity-rich levels dropped from the first quarter of 2023 to the same period this year in 25 states.
- Equity-rich: Loan to value ratio of 50 percent or lower, meaning the property owner had at least 50 percent equity.
IRVINE, Calif., May 2, 2024 /PRNewswire/ -- ATTOM, a leading curator of land, property, and real estate data, today released its annual analysis of the best days of the year to sell a home, which shows that based on home sales over the past 13 years, the months of May, February and April offer the highest seller premiums – making this month the time to sell your home.
Key Points:
- An analysis of over 59 million single-family home and condo sales from 2011 to 2023 shows that listing a property in May, February, or April can yield higher seller premiums.
- The data suggests that from early in the year through summer is not only the busiest season for home buying but also the best time for sellers to list their properties.
- Therefore, it might be the ideal moment to place your home on the market.
- May is Prime Time to Sell: Top Months to Sell a Home Infographic
The analysis also took a more high-level look and showcased how seller premiums faired throughout the year and broke it out by month.
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Arms industry IRVINE, Calif., April 25, 2024 /PRNewswire/ -- ATTOM, a leading curator of land, property, and real estate data, today released its first-quarter 2024 U.S. Home Sales Report, which shows that profit margins on median-priced single-family home and condo sales in the United States decreased to 55.3 percent in the first quarter – the smallest level in more than two years.
Key Points:
- At the same time, investment returns for sellers decreased for the second straight quarter after several increases last year, hitting the low point since mid-2021.
- The drop-off in prices and profits comes as a mix of powerful forces is putting both upward and downward pressure on the U.S. housing market.
- The longest 40 average tenures among sellers in the first quarter of 2024 were again in the Northeast or West regions of the U.S.
- Nationwide, all-cash purchases accounted for 41.1 percent of single-family home and condo sales in the first quarter of 2024.
IRVINE, Calif., April 11, 2024 /PRNewswire/ -- ATTOM, a leading curator of land, property, and real estate data, today released its Q1 2024 U.S. Foreclosure Market Report, which shows a total of 95,349 U.S. properties with a foreclosure filings during the first quarter of 2024, up 3 percent from the previous quarter but down less than 1 percent from a year ago.
Key Points:
- A total of 67,657 U.S. properties started the foreclosure process in Q1 2024, up 2 percent from the previous quarter and up 4 percent from a year ago.
- Those major metros with a population of 200,000 or more that had the greatest number of foreclosures starts in Q1 2024 included, New York, New York (4,404 foreclosure starts); Houston, Texas (2,977 foreclosure starts); Chicago, Illinois (2,867 foreclosure starts); Los Angeles, CA (2,398 foreclosure starts); and Miami, FL (2,319 foreclosure starts).
- Highest foreclosure rates in Delaware, New Jersey, and South Carolina
Nationwide one in every 1,478 housing units had a foreclosure filing in Q1 2024.
- Properties foreclosed in Q1 2024 had been in the foreclosure process for an average of 736 days.
IRVINE, Calif., April 4, 2024 /PRNewswire/ -- ATTOM, a leading curator of land, property, and real estate data, today released its 2023 property tax analysis for 89.4 million U.S. single family homes, which shows that $363.3 billion in property taxes were levied on single-family homes in 2023, up 6.9 percent from $339.8 billion in 2022. The increase was almost double the 3.6 percent growth rate in 2022 – and the largest in the past five years.
Key Points:
- The effective tax rate shows the average annual property tax expressed as a percentage of the average estimated market value of homes in each geographic area.
- The decrease in values, along with rising taxes, resulted in a small increase in effective rates.
- States in the Northeast region had seven of the 10 highest average property taxes in the U.S. in 2023.
- Among 1,502 U.S. counties with at least 10,000 single-family homes in 2023, 21 had an average single-family-home property tax of more than $10,000.
IRVINE, Calif., March 28, 2024 /PRNewswire/ -- ATTOM, a leading curator of land, property, and real estate data, today released its first-quarter 2024 U.S. Home Affordability Report showing that median-priced single-family homes and condos remain less affordable in the first quarter of 2024 compared to historical averages in more than 95 percent of counties around the nation with enough data to analyze. The latest trend continues a pattern, dating back to 2022, of home ownership requiring historically large portions of wages around the country.
Key Points:
- "The picture for home buyers is brightening a little again as affordability measures have improved for the second quarter in a row," said Rob Barber, CEO for ATTOM.
- Affording a home remains a financial stretch, or a pipe dream, for so many households.
- The upcoming Spring buying season will say a lot about whether home prices remain stable enough for this trend to continue."
- Average 30-year fixed interest rates from the Freddie Mac Primary Mortgage Market Survey were used to calculate monthly house payments.
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Video game IRVINE, Calif., March 21, 2024 /PRNewswire/ -- ATTOM, a leading curator of land, property, and real estate data, today released its year-end 2023 U.S. Home Flipping Report, which shows that 308,922 single-family homes and condos in the United States were flipped in 2023. That was down 29.3 percent from 436,807 in 2022 – the largest annual drop since 2008.
Key Points:
- In yet another sign of down times for the home-flipping industry, profits and profit margins also sank on quick buy-renovate-and-resell projects.
- "In 2023, the landscape for home flipping across the U.S. became increasingly challenging," remarked Rob Barber, CEO at ATTOM.
- Either way, it will take some significant reworking of the financials for home flipping fortunes to turn back around."
- Gross flipping return on investment was calculated by dividing the gross flipping profit by the first sale (purchase) price.
IRVINE, Calif., March 14, 2024 /PRNewswire/ -- ATTOM, a leading curator of land, property, and real estate data, today released its Q1 2024 Single-Family Rental Market report, which ranks the best U.S. markets for buying single-family rental properties in 2024.
Key Points:
- From 2023 to 2024, median three-bedroom rents rose more than median single-family home prices in 216, or 63 percent, of the markets analyzed.
- Potential annual three-bedroom gross rental yields for 2024 have increased compared to 2023 in 216 of the 341 counties analyzed in the report (63 percent).
- For this report, ATTOM looked at U.S. counties with a population of 100,000 or more and sufficient home price and rental rate data.
- ATTOM used single-family, home price data from its publicly recorded sales deed data, as well as three-bedroom rental data, collected and licensed by ATTOM.
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Maid service IRVINE, Calif., March 12, 2024 /PRNewswire/ -- ATTOM, a leading curator of land, property, and real estate data, today released its February 2024 U.S. Foreclosure Market Report, which shows there were a total of 32,938 U.S. properties with foreclosure filings — default notices, scheduled auctions or bank repossessions – down 1 percent from last month but up 8 percent from a year ago.
Key Points:
- "The annual uptick in U.S. foreclosure activity hints at shifting dynamics within the housing market," said Rob Barber, CEO at ATTOM.
- Highest foreclosure rates in South Carolina, Delaware, and Florida
Nationwide, one in every 4,279 housing units had a foreclosure filing in February 2024.
- Those states that saw the greatest number of foreclosures starts in February 2024 included: Florida (2,732 foreclosure starts); California (2,730 foreclosure starts); Texas (2,694 foreclosure starts); New York (1,289 foreclosure starts); and Ohio (1,097 foreclosure starts).
- Among those major metropolitan statistical areas with a population of at least 200,000, those with the greatest number of foreclosure starts in February 2024, included: New York, NY (1,367 foreclosure starts); Houston, TX (998 foreclosure starts); Los Angeles, CA (808 foreclosure starts); Chicago, IL (792 foreclosure starts); and Miami, FL (777 foreclosure starts).
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Food delivery IRVINE, Calif., March 7, 2024 /PRNewswire/ -- ATTOM, a leading curator of land, property, and real estate data, today released a Special Housing Risk Report spotlighting county-level housing markets around the United States that are more or less vulnerable to declines, based on home affordability, underwater mortgages and other measures in the fourth quarter of 2023. The report shows that California, New Jersey and Illinois continue to have the highest concentrations of the most-at-risk markets in the country, with some of the biggest clusters in the New York City and Chicago areas, along with inland California. Less-vulnerable markets are spread mainly throughout the South and Midwest.
Key Points:
- "As always, this is not a warning sign for homeowners to run out and sell, or rush to buy, in any specific market.
- The housing market remains strong throughout most of the country despite some recent small downturns.
- Rather, this report again spotlights areas that appear more or less exposed to a market fall, should that start to happen, based on key measures."
- Counties with the lowest composite rank were considered most vulnerable to housing market problems.
