A total of 72,217 single-family homes and condominiums were flipped in the third quarter, accounting for 6.8% of home sales between July and September.
According to data from ATTOM, the number of flips nationwide was down quarter-over-quarter (from 79,335 in the second quarter, or 7.3% of all sales) and year-over-year (from 75,977 in the third quarter of 2024, or 7% of all sales). The typical profit margin for a flipped home in the third quarter was 23.1%, down from 26.5% in the previous quarter and down from 29.8% at the same time last year.
ATTOM added that typical flipping profit margins hadn’t fallen below 25% since the second quarter of 2008.
A typical flipped home in the third quarter was purchased by an investor at a national median price of $260,000 and sold at a national median of $320,000, generating $60,000 in gross profits. In the previous quarter, the typical flip netted $68,000 in profit and at the same time last year it was $73,554.
“Home flipping activity and profitability continued to decline in Q3 2025 with typical return on investment dropping to 23.1%, the lowest since 2008,” said Rob Barber, CEO of ATTOM. “Rising home prices and shrinking margins have made flipping increasingly challenging,” he added. “What was once a flipping market that consistently delivered 40–60% returns for more than a decade beginning in 2009 has now settled into five straight quarters of returns in the 20% range. Investors must choose their markets more carefully as the game has fundamentally changed.”
