Flipping Profits Up in Q2
According to the latest U.S. Home Flipping Report from ATTOM, 115,198 single-family houses and condominiums were flipped in Q2, 2022 representing 8.2% of all home sales in Q2. Interestingly, ATTOM points out that profit margins improved in Q2 as median resale price trends on flipped homes greatly improved. Specifically, the typical resale price on flipped homes reached another all-time high in Q2 of $ 328k up 21.5% from the same period one year ago.
“The second quarter was another strong showing for fix-and-flip investors. The total number of properties flipped was the second-highest total we’ve recorded in the past 22 years, and the median sales price of a flipped property – $ 328,000 – was the highest ever…The big question is whether the fix-and-flip market will begin to lose steam as overall home sales have declined dramatically over the past few months, and the cost of financing has virtually doubled over the past year.” said Rick Sharga, executive vice president of market intelligence for ATTOM.
Click here to read the full report at ATTOM.
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