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.
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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.
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Flipping rates are on the decline as profit margins hit a recent low. Click through to find out more about this trend.
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Despite home-flipping rates reaching new highs, representing 9.6% of total home sales in Q1, ATTOM reports that profit margins on flips hit a 13-year low.
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