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Monday, March 18, 2024
March 18, 2024

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Home-flipping slips in U.S. in 2Q

The Columbian
Published:

New data from for this year’s third quarter shows that 26,947 single-family homes nationwide were flipped — purchased and sold again within 12 months — during the quarter. Those transactions represent 4 percent of all U.S. single-family home sales, down from 4.6 percent in the second quarter of 2014 and the lowest since the second quarter of 2009.

Investors averaged a gross profit of $75,990 per flip on homes flipped, a 36 percent gross return on the initial investment that does not include home improvement costs and other expenses, RealtyTrac said.

Both Washington and Oregon fell below the national average in flipping activity and were higher in gross profits per flip. RealtyTrac said 3.3 percent of Washington home transactions were flipped, generating an average gross profit of $105,069. In Oregon, 3.7 percent of homes were flipped during the quarter, for an average gross profit $80,156. The report did not include county breakouts.

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