Pace of Home Flipping Reaches its Highest Level Since 2006

Pace of Home Flipping Reaches its Highest Level Since 2006

Home flipping, defined as the practice of buying and selling the same home within a 12-month period, reached its highest level in 10-years according to a report by ATTOM Data Solutions. The report showed that 193,009 single family homes and condos were flipped in 2016, up 3.1% from 2015. Overall, home flipping accounted for 5.7% of all single family and condo sales in 2016, up from 5.5% in 2015, but still significantly lower than 8.2% of sales in 2005.

The national median price of a flipped home in 2016 is $189,900, returning a profit of $62,624, or 49.2%.

Highest Home Flipping Returns in Dollar Terms

Among 117 metropolitan areas, 11 had an average gross flipping profit of over $100K.

  1. San Jose, CA: $145,750;
  2. Boston, MA:  $140,000;
  3. San Francisco, CA: $140,000;
  4. New York, NY: $127,250;
  5. Los Angeles, CA: $127,000;
  6. San Diego, CA:  $111,000;
  7. Oxnard-Thousand Oaks-Ventura, CA: $105,000;
  8. Seattle, WA: $102,000;
  9. Vallejo-Fairfield, CA: $101,000;
  10. Baltimore, MD: $100,500; and
  11. Washington, D.C.: $100,000

Highest Home Flipping ROI’s

Among 117 metropolitan areas, 6 had an average gross flipping ROI over 100%.

  1. East Stroudsburg, PA: 241.5%;
  2. Pittsburgh, PA: 130%;
  3. Cleveland, OH: 116.2%;
  4. Philadelphia, PA: 107.1%;
  5. Toledo, OH: 102%; and
  6. New Orleans, LA: 101.2%