House Flippers

Home flipping rates are falling as profit margins soar, according to new data from ATTOM. Flipped homes accounted for 8.9% of all U.S. home sales in Q2 2023, down 1% from the prior quarter and nearly the lowest rate since 2021. In total, 84,350 single-family homes and condominiums were flipped in the second quarter. At the same time, raw flipping profits increased 18% from Q1, the largest spike in the past decade. Typical profits also increased at the fastest quarterly pace in three years. The profit upswing comes on the heels of an “extended slump” that cut profits in half in the last two years. Though they remain far below 2021’s peaks, last quarter’s profits represent a rebound for home…