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| Todd Teta |
IRVINE, CA –— ATTOM Data Solutions, curator of the nation’s
premier property database and first property data provider of
Data-as-a-Service (DaaS), released its Q2 2019 U.S. Home Flipping Report, which
shows that 59,876 U.S. single family homes and condos were flipped in the
second quarter of 2019, up 12.4 percent from the previous quarter, but down 5.2
percent from a year ago.
Homes flipped in Q2 2019 typically generated a gross profit of $62,700
(the difference between the median sale price and median paid by investors), up
2 percent from the previous quarter, but down 2 percent from a year ago.
The typical gross flipping profit of $62,700 in Q2 2019 translated into a
39.9 percent return on investment compared to the original acquisition price,
down from a 40.9 percent gross flipping ROI in Q1 2019 and from a margin of
44.4 percent in Q2 2018.
“Home flipping keeps getting less and less profitable, which is another
marker that the post-recession housing boom is softening or may be coming to an
end,” said Todd Teta, chief product officer at ATTOM Data Solutions.
“Flipping houses is
still a good business to be in and profits are healthy in most parts of the
country. But push-and-pull forces in the housing market appear to be
working less and less in investors’ favor.
Among the areas analyzed, the number of homes flipped reached new peaks in
Q2 2019 in 10 MSAs. The largest were Charlotte, NC; San Antonio, TX;
Pittsburgh, PA; Oklahoma City, OK and Raleigh, NC.
CONTACT:
Christine Stricker
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Sr. Marketing Manager, Projects
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