A total of 297,045 single-family homes and condos were flipped nationwide in 2025. According to a data report from ATTOM, that was down by 3.9% from 2024’s total of 309,050, and it also marked the fewest home flips recorded in a year since 2020.
Investors were responsible for 7.4% of flipped homes last year, down slightly from 7.6% one year before. The typical flipped home netted $65,981 in gross profit, down from $77,000 in 2024. This resulted in a 25.5% return on investment, down from 32.1% in 2024 for the lowest rate recorded since 2008.
The home flipping rate, as a percentage of overall sales, fell year-over-year in two thirds (142) of the 215 metropolitan statistical areas with sufficient data to analyze, The largest declines were in Salisbury, Maryland (down 42.2% from 2024); Tallahassee, Florida (down 37.5%); Lafayette, Indiana (down 36%); Evansville, Indiana (down 32.9%); and Warner Robins, Georgia (down 32.6%).
The metro areas that saw the largest increases in home flipping rates were Binghampton, New York (up 136.4% from 2024); Boulder, Colorado (up 72.4%); Greeley, Colorado (up 49.4%); Lexington, Kentucky (up 40.3%); and Scranton, Pennsylvania (up 31.2%).
“Competition for homes remains strong in many markets due to constrained supply,” said Rob Barber, CEO of ATTOM. “With prices staying elevated, investors are finding it harder to secure deals that deliver strong returns. Flippers are having to get more creative to maintain profitability. That could include taking on older homes, as the median flipped property in 2025 was built in 1978, the oldest since we began tracking, along with tighter cost control and more disciplined renovation strategies.”
