The average gross return on investment for a flip, defined as a home bought and sold within a 12-month span, was 39.9% in the second quarter, according to Attom. That’s down from 40.9% in the previous quarter and 44.4% a year earlier. This marks the lowest gross flipping return since 2011.
“Flipping houses is still a good business to be in and profits are healthy in most parts of the country,” Attom’s chief product officer, Todd Teta, told CNBC. “But push-and-pull forces in the housing market appear to be working less and less in investors’ favor.”
