Home Flips Are Up, But Raw Profits Hit 13-Year Low
Home Flips Are Up, But Raw Profits Hit 13-Year Low
Abstract
114,706 single-family houses and condominiums in the United States were flipped in the first quarter of 2021. This marks the highest level of home flips since at least 2000, up from 6.9% to one in every 4 home sales. The highest raw profits on median-price flipped homes were concentrated among western and northeastern metro areas. Almost two-thirds of flipped houses were purchased with cash by investors. Nearly two- thirds of flipped homes was bought with cash. The highest percentage of flips in the second quarter of 2022.
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