ATTOM Data Solutions recently released its Q4 2018 Year-End Home Flipping Report. ATTOM’s report indicated that 207,957 single-family homes and condominiums were flipped in all of 2018, down -4% from the year 2017, and representing 5.6% of all single-family and condo sales in 2018.

Interestingly, though down in terms of numbers of flipped units, the total dollar volume of financed flipped purchases was up +8% from $18.5B in 2017 to $19,9B in 2018. This $19.9B represents the highest level of financed flipped purchases since 2007.

Cities with the highest home flipping rate in 2018 included…

  • Memphis TN– 29.5% of ALL home sales in 2018
  • Donna TX
  • Miami FL
  • Washington DC
  • Jamaica NY
  • Baton Rouge LA
  • Compton CA
  • Phoenix AZ

With an average gross profit of $65,000 (an average ROI of 44.8%), down -3% of $66,900 in 2017, flipped units in these cities with these specific zip codes generated the greatest gross profits:

  • 90291 – Los Angeles – $906,000
  • 94303 – San Jose – $769,000
  • 90046 – Los Angeles – $755,000
  • 98004 – Seattle – $720,000
  • 91403 – Los Angeles – $624,000
  • 37215 – Nashville – $595,000
  • 95050 – San Jose – $519,500

Cities with the highest average gross flipping ROI in large markets included:

  • Philadelphia – +109.0%
  • Baltimore – +103.5%
  • Buffalo – +96.2%
  • Memphis = +86.5%
  • Cincinnati – +84.2%

The highest average gross flipping ROI in smaller markets included:

  • Pittsburg – +144.2%
  • Scranton – +131.7%
  • Atlantic City – +113.2%
  • Cleveland – +112.1%
  • Erie – +109.3%

The highest share of flipping purchases to all cash buyers happened in these cities:

  • Detroit – 48.8%
  • Birmingham – 42.4%
  • Jacksonville – 39.8%
  • Miami – 38.3%
  • Buffalo – 38.0%

Cities with the highest increase of flipping included

  • Boston – +33.3%
  • Tucson – +27.3%
  • Raleigh – +24.5%
  • Columbus – +13.1%
  • Hartford – +12.8%

Cities with the largest decrease of flipping included

  • Kansas City – -25.2%
  • Buffalo – -17.5%
  • Indianapolis – -16.3%
  • Seattle – -15.9%
  • Salt Lake City – -14.0%