Tag Archives: Rob Barber

Profits and profit margins for home flippers recovered in Q3 2023, with a new report revealing that investors were able to benefit from shifts in prices between the time of purchase and the point at which they sold them.

A monthly report shows that states with the highest number of foreclosure starts include the red-hot real estate markets of California, Florida, and Texas.

With the nation’s highest foreclosure rates found in the states of New Jersey, South Carolina, and Delaware, ATTOM reports a near 30% quarter-over-quarter rise in third quarter default notices, scheduled auctions and bank repossessions, approaching levels seen before the pandemic.

Property flippers in the second quarter reported an average gross profit of $66,500 according to ATTOM, with the average time it took to flip a home in the quarter rising to 178 days.

According to ATTOM Data’s newest Special Housing Impact Report, it found that New Jersey and Ilinois had the highest concentrations of the most-at-risk markets in the country.

ATTOM reports that nationwide, one in every 4,380 housing units reported a foreclosure filing in July 2023, with Maryland leading the pack with one in every 2,071 housing units reporting a foreclosure filing.

ATTOM reports that foreclosure activity through the first six months of 2023 maintained an upward trajectory, nearing levels last recorded prior to the pandemic.

ATTOM has found that nearly 73,000 single-family homes and condominiums in the nation were flipped in Q1 2023, hitting the second-highest mark for home flippers this century.

Total residential loans dropped 19% in the first quarter of 2023, reaching the lowest point since 2000; refinancing was also down 85% year-over-year.

ATTOM data has found that the number of vacant homes in foreclosure has risen for the fifth consecutive quarter, as zombie properties accounted for the largest share of all homes since before the pandemic.