House Flipping During COVID-19

by | Sep 29, 2020

With the real estate market seeing high returns on investments for homeowners that are selling, the market is also seeing the same or higher on house flips.  At its highest level since 2018, the national gross profit for a flipped home was $67,902 in the second quarter, up $6,000 from the year before.

Although flipping profits are up, the number of house flips has fallen since the COVID-19 outbreak.  Down from 7.5% in the first quarter of all homes and condos sold being flipped, the second quarter showed only 6.7%.

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