"The median home sale last quarter netted a 50 percent profit, compared to around 30 percent before the pandemic."
"Profit margins dropped year over year in 123 metro areas, nearly 79%, with Ocala, Florida, seeing a dramatic decline from 97.6% to 61.8%."
"In larger metro areas, Las Vegas experienced the steepest decline, with profits dropping from 60.6% to 46.9%."
"Despite declines, yearly home sale prices increased in 125 out of 159 analyzed metro areas, with Hilo, Hawaii, showing a 32.9% gain."
Profit margins for home sales remain favorable despite year-over-year declines in 123 out of 156 analyzed metro areas. The median home sale last quarter achieved a 50 percent profit compared to about 30 percent pre-pandemic. Specific regions experienced significant drops, like Ocala, Florida, where profit margins fell to 61.8%. Meanwhile, several areas, such as Hilo, Hawaii, showed notable gains in both profit margins and home sale prices, highlighting the variability across different markets.
Read at www.housingwire.com
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