"The typical profit on a flip in the second quarter of 2024 was 30.4%, the fourth time in five quarters that margins rose," noted Attom, suggesting a potential recovery in home flipping profits.
"Flippers have struggled in comparison to other types of sellers in recent years due to an unusual pattern of timing the market poorly," indicating the specific challenges they face.
Attom CEO Rob Barber stated, "The second-quarter numbers did show another step in the right direction... but profits have not shot through the roof as flippers continue to struggle."
The report also mentioned, "Measured in dollar amounts, gross profits for home flips reached roughly $73,500 in Q2 2024... but are still significantly lower compared to historical peaks."
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