A total of 78,621 single-family homes and condominiums were flipped in the second quarter, accounting for 7.4% of home sales during that three-month period.
According to data from ATTOM, the second quarter’s activity was down from the first quarter when flipped homes accounted for 8.3% of all sales; ATTOM noted flipped properties tend to make up a higher share of overall sales during the first quarter of the year, when there are fewer sales overall. On a year-over-year measurement, the share is down slightly from the 7.5% of sales posted in the second quarter of 2024.
During the second quarter, the typical flipped property generated a 25.1% return on investment before expenses. This marked the lowest home flipping profit margin ATTOM has recorded in a quarter since the second quarter of 2008. The typical flipped home netted $65,300 in the second quarter, about 4% lower than the previous quarter and 13.6% less than the same time last year.
The median purchase price on a flipped property was $259,700 in the second quarter, the highest it has been since ATTOM began tracking the data in 2000. The median sales price of flipped homes was $325,000, unchanged from the previous quarter.
“We’re seeing very low profit margins from home flipping because of the historically high cost of homes,” said Rob Barber, CEO at ATTOM. “The initial buy-in for properties that are ideal for flipping, often lower priced homes that may need some work, keeps going up. As prospective homeowners get priced out of the middle and high end of the market, they’re more likely to be competing with flippers over the same homes.”
