Residential

The profits made from flipping homes continue to shrink

Even as more investors are flipping homes, they’re seeing less profits in return.

High home prices, increasing renovation costs and a skimpier supply of distressed properties are making it more expensive to get in the game, even though demand for move-in ready homes is high.

Single family homes and condos flipped in the third quarter of this year brought an average gross profit of $66,448 per flip, representing a 47.7% return on investment for flippers, according to ATTOM Data Solutions, a real estate data and analytics company. ATTOM defines a flip as a home bought and sold in a 12-month period.

Read Article at USAToday.com

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