In their most recent U.S. Home Flipping Report, ATTOM data solutions is reporting that homes flipped in Q3 2017 had an average gross flipping profit of $66,448 per flip, representing an average 47.7% return on investment, down from 48.7% in the previous quarter and down from 51.2% in Q3 2016. The latest number is the lowest average gross flipping ROI since the 2nd quarter of 2015. Overall in the 3rd quarter, 48,685 single family homes & condos were flipped, representing a home flipping rate of 5.1 percent — down from 5.6 percent in the previous quarter and unchanged from a year ago. ATTOM defines a home flip as a property that is sold in an arms-length sale for the second time within a 12-month period. Their data covers over 950 counties and covers over 80% of the U.S. population.
“Home flipping profits continue to be squeezed by a dwindling inventory of distressed properties available to purchase at a discount and increasing competition from fair-weather home flippers often willing to operate on thinner margins,” said Daren Blomquist, senior vice president at ATTOM Data Solutions.
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