Why Are Fewer Investors Flipping Homes Despite Record Profits?Posted by: jhon | Posted on: December 17, 2020
In a reversal of fortune, home flippers enjoyed their best-ever paydays this fall as the pandemic pushed home prices up to new highs.
Flippers pocketed an all-time high profit of $73,766, or a 44.4% return on their initial investments, in the third quarter of this year, according to a recent report from ATTOM Data Solutions, a real estate information company. After years of declining profits, typical gains rose for the second quarter in a row. These sledgehammer-swinging investors made roughly 19.3% more than they did a year ago.