Flipping Spikes Nationwide While Profits Drop to 13-Year Low
According to the latest U.S. Home Flipping Report from ATTOM, 114,706 single-family houses and condominiums were flipped in Q1, 2022. That figure represents 9.6% of all home sales in Q1 or one in 10 transactions – the highest level since at least 2000. In addition, ATTOM says that as home sales by investors spiked, typical raw profits on those deals remained below where they were one year ago, with profit margins dipped to their lowest point since 2009.
“The good news for fix-and-flip investors is that demand remains strong from prospective homebuyers, as evidenced by this quarter’s report, which shows that one of every 10 homes sold during Q1 was a flip…The bad news is that rising mortgage interest rates are beginning to slow down home price appreciation rates, and buyers have become more selective – and less willing to outbid other buyers for properties they’re interested in…” said Rick Sharga, executive vice president of market intelligence for ATTOM.
Click here to read the full report at ATTOM.
The post Flipping Spikes Nationwide While Profits Drop to 13-Year Low appeared first on Real Estate Investing Today.