![]() On the opposite end of the spectrum, the lowest profits were recorded in Indianapolis, Houston, Dallas, San Antonio and Kansas City.Ī further challenge for investors in 2022 was finding a house to buy. States including Florida, Texas, Georgia, Arizona and California proved most popular for flipping.Īnd while the largest profits were seen in New York City, Washington, D.C, San Francisco, and Seattle, real estate prices in these areas are among the highest in the country, so investors have to put down more money to begin with - the result being considerably less profit compared to 2021. The is lowest sum recorded since the housing market crashed in 2008 - but still considerably more than the $30,000 home owners made that year, and just a couple thousand dollars shy of the 2021 high of $70,000.Īnd, when experts drilled into the data, 13 states emerged as flipping hotspots, with the average profit increasing by as much as 243 percent between 20.īiggest jumps - and falls - in flipping profits last year BestĮven sellers in states that saw substantial dips - such as California, Delaware and New York - still recorded generous average returns of up to $200,000.ĪTTOM, which has examined house flipping activity since 2005, found that the average investor bought a home for $252,100 last year, then sold it on for $320,000 after 164 days. Mortgage rate increases and high inflation - which has pushed up renovation costs by between 20 and 35 per cent - means the average profit pocketed per home has dipped to $67,900. ![]() Regular investors in the US are also keen to make some extra cash, with the number of properties flipped last year shooting up 14 percent to a 17-year-high of 407,000, research by data provider ATTOM revealed. ![]() A new generation of Hollywood house flippers - including Miley Cyrus, Ariana Grande and Vanessa Hudgens - are raking in millions by snapping up luxury homes then swiftly selling them on at a profit.īut it's not just stars with deep pockets eager to get in on the action.
0 Comments
Leave a Reply. |