According to the latest U.S. Home Flipping Report from ATTOM, 67,817 single-family houses and condominiums were flipped in Q1, 2024 representing 8.7% of all home sales (one of every 12 sales) in the first quarter. ATTOM says as flipping rates went up, fortunes kept improving for investors who buy and quickly resell homes. Their data show that home flippers typically earned a 30.2% gross profit nationwide before expenses on homes sold during Q1, marking the third time in four quarters that margins increased following a six-year period of mostly uninterrupted declines. Indeed…
“The latest numbers show that investors still face an uphill climb to clear significant profits after expenses…They, like others, also face tenuous times amid a housing market boom that’s cooled down over the past year. But we now have a year’s worth of a trend showing that things have started to turn around for the flipping industry, with clear signs of increasing interest flowing into the market.” Said Rob Barber, CEO for ATTOM.
Click here to read the full report at ATTOM.
