BY BRAD BECKETT ON JUNE 10, 2019
In their latest U.S. Home Flipping Report, ATTOM Data is reporting that 49,059 homes were flipped in the first quarter of 2019 representing 7.2% of all home sales – which is the highest home flipping rate since Q1 of 2010. Homes during Q1 2019 sold at an average gross profit of $60k, which translates into an average 38.7% return on investment compared to the original acquisition price. Flipped homes took an average of 180 days to complete in Q1.
“…While the home flipping rate is increasing, gross profits and ROI are starting to weaken and the number of investors that are flipping is down 11 percent from last year. Therefore, if investors are seeing profit margins drop, they may be acting now and selling before price increases drop even more.” Said Todd Teta, chief product officer at ATTOM Data Solutions.