Typical profits for investors flipping homes have hit a 13-year low. But the DC region ranks high for return on investment compared to other areas.
Typical profits for investors buying a home, renovating it, and reselling a home — or flipping it — have hit a 13-year low. But the DC region ranks high for return on investment.
Real estate data firm Attom Data Solutions reports 7.5% of homes purchased in the third quarter nationwide were flips, or one in 13 transactions. That was down 8.2% from the second quarter, though still 5.9% more than the third quarter of 2021. Notably, despite the recent decline in flips, the rate during the third quarter was the third-highest in the past decade.
The DC metro area ranked fourth for gross profits on a median-priced home flip last quarter, at $140,000. Baltimore ranked just behind DC, at $135,000. Salisbury, Maryland, topped the list,