Home-flipping across the U.S. has fallen, according to a new report from ATTOM Data.
About 298,000 single-family homes and condominiums were flipped last year. That’s just under 8 percent fewer homes in 2023, and more than 32 percent fewer than in 2022.
Though activity has fallen, the average gross profit on a typical flip was $72,000 in 2024, up from just under $68,000 the year before.
Flippers’ average return on investment – before mortgage interest, property taxes, and renovation costs, etc. – also rose. It was 29.6 percent in 2024, up a percentage point from the year before. However, this is still down from the decade-high peak of 54.2 percent in 2016.
Here are the metros, with a population of at least 1 million, with the biggest gross profit margins last year:
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