According to the latest U.S. Home Flipping Report from ATTOM, 79,540 single-family houses and condominiums were flipped in Q2, 2024 representing 7.5% of all home sales (one of every 13 sales) in the first quarter. ATTOM says the latest portion of flipped properties was down from 8.7 percent of all sales in Q1 2024 – a common pattern during the busy annual Springtime buying season each year when other types of home sales spike. In addition, they said the flipping rate also was down slightly from 7.9% a year earlier.
“The Spring home-buying season of 2024 brought another sign of hope for home flippers that the rebound in fortunes that began for them last year was more than just a temporary thing…It’s not as if profits have shot through the roof and investors are riding a new wave of good times. Far from it, as they continue to struggle to benefit from the broader market boom. But the second-quarter numbers did show another step in the right direction.” Said said Rob Barber, CEO for ATTOM.
Click here to read the full report at ATTOM.
