A significant decline in home flips was observed across 145 of 213 U.S. metro areas, with the sharpest drops recorded in larger cities in the South and West. Smaller markets like Cedar Rapids, Iowa, saw substantial increases in flipping activity, signaling diverse market dynamics. While overall profits from flips remained lower compared to previous years, 141 metro areas experienced profit growth, with San Jose and San Francisco leading in gross profits. The trend of purchasing flips with cash slightly increased, showing contrasting financing trends in metropolitan regions like Buffalo and Cleveland.
Home flips have declined in the majority of U.S. metro areas, especially in the South and West, highlighting cooling market trends in property investments.
While most major metro areas saw a dip in home flipping activity, several smaller markets like Cedar Rapids experienced significant increases, indicating regional variances.
Despite lower gross flipping profits than in previous years, profits increased in a majority of metro areas, particularly in tech hubs like San Jose and San Francisco.
The cash purchase rate for flipped homes rose slightly, contrasting sharply with high financing rates in cities like Buffalo and Cleveland, reflecting diverse market conditions.
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