What is the Current Home Flipping Rate in the U.S.?
In the fourth quarter of 2025, home flipping activity was down slightly quarterly while investor profit margins dropped to their lowest level since Q3 2007.
- Total flips: 68,999 single-family homes and condos flipped
- Quarter-over-Quarter trend: Down from 75,604 flipped homes in Q3 2025
- Year-over-Year trend: Down from 73,577 flipped homes in Q4 2024
- Share of all sales: 7.2% of total home sales from October through December
- Quarter-over-quarter trend: Up from 6.8% in Q3 2025
- Year-over-year change: Down from 7.4% in Q4 2024
Top flipping markets: Georgia led the nation in flipping rate, followed by Ohio, Texas, and Utah.
Home Flipping Profits and Price Trends
- National ROI: 23.6% gross return (down from 24.0% in Q3 2025) — the lowest since Q3 2007
- National gross profit: $62,000 (down from $74,076 in Q4 2024)
- Median flip days: 160 days from purchase to resale
- Financing share: 38.0% of flipped homes were purchased with financing (up from 37.2% in Q3 2025)
Summary: Investors continued to face tight margins at the end of 2025, as elevated prices and constrained supply made it harder to find deals that delivered strong returns.
What’s Driving Q4 2025 Flipping Trends?
Competition for homes remains strong in many markets due to constrained supply, and with prices staying elevated, investors are finding it harder to secure deals that deliver strong returns. Flippers are becoming more creative to maintain profitability, including taking on older homes. In Q4 2025, the median flipped property was built in 1977, making it the oldest since tracking began. They are also focusing on tighter cost control and more disciplined renovation strategies.
Flipping Rates by State – Q4 2025
A state-by-state look at investor activity, profits, and ROI across the U.S. in the fourth quarter of 2025.
Georgia
3,299 home flips (10.4% flipping rate)
Gross Flipping Profit: $51,048 – down from $57,000 year ago
Gross Flipping ROI: 21.3% – down from 22.8% year ago
Ohio
4,576 home flips (9.7% flipping rate)
Gross Flipping Profit: $50,000 – down from $50,312 year ago
Gross Flipping ROI: 31.2% – down from 33.6% year ago
Texas
6,834 home flips (9.6% flipping rate)
Gross Flipping Profit: $12,853 – down from $23,454 year ago
Gross Flipping ROI: 4.5% – down from 8.6% year ago
Utah
940 home flips (9% flipping rate)
Gross Flipping Profit: $35,016 – down from $39,115 year ago
Gross Flipping ROI: 7.1% – down from 8.3% year ago
Arizona
2,632 home flips (9% flipping rate)
Gross Flipping Profit: $56,255 – up from $50,050 year ago
Gross Flipping ROI: 15.9% – up from 14% year ago
Missouri
1,960 home flips (9% flipping rate)
Gross Flipping Profit: $40,034 – down from $44,820 year ago
Gross Flipping ROI: 19.7% – down from 24.2% year ago
South Carolina
1,704 home flips (8.8% flipping rate)
Gross Flipping Profit: $69,800 – down from $70,000 year ago
Gross Flipping ROI: 34.9% – down from 35.9% year ago
Alabama
1,033 home flips (8.8% flipping rate)
Gross Flipping Profit: $65,750 – up from $58,025 year ago
Gross Flipping ROI: 45.3% – down from 49.6% year ago
Tennessee
2,019 home flips (8.6% flipping rate)
Gross Flipping Profit: $100,000 – down from $120,250 year ago
Gross Flipping ROI: 57.1% – down from 76.3% year ago
Nevada
1,048 home flips (8.3% flipping rate)
Gross Flipping Profit: $63,468 – down from $64,900 year ago
Gross Flipping ROI: 17.1% – down from 17.8% year ago
Delaware
286 home flips (8.2% flipping rate)
Gross Flipping Profit: $55,725 – down from $151,974 year ago
Gross Flipping ROI: 19.7% – down from 60.8% year ago
California
6,243 home flips (7.9% flipping rate)
Gross Flipping Profit: $110,000 – up from $104,000 year ago
Gross Flipping ROI: 16.9% – up from 16.1% year ago
North Carolina
2,637 home flips (7.6% flipping rate)
Gross Flipping Profit: $57,541 – down from $80,000 year ago
Gross Flipping ROI: 24.3% – down from 38.1% year ago
Colorado
1,473 home flips (7.4% flipping rate)
Gross Flipping Profit: $77,000 – up from $69,000 year ago
Gross Flipping ROI: 18.3% – up from 16% year ago
Virginia
1,752 home flips (7.2% flipping rate)
Gross Flipping Profit: $115,000 – down from $131,984 year ago
Gross Flipping ROI: 50% – down from 62.8% year ago
Oklahoma
785 home flips (7.1% flipping rate)
Gross Flipping Profit: $58,000 – down from $70,000 year ago
Gross Flipping ROI: 42.3% – down from 58.3% year ago
Nebraska
373 home flips (6.8% flipping rate)
Gross Flipping Profit: $55,634 – down from $75,000 year ago
Gross Flipping ROI: 27.1% – down from 41.7% year ago
Kentucky
717 home flips (6.8% flipping rate)
Gross Flipping Profit: $80,000 – down from $90,000 year ago
Gross Flipping ROI: 50% – down from 66.7% year ago
Florida
5,942 home flips (6.7% flipping rate)
Gross Flipping Profit: $75,000 – down from $85,000 year ago
Gross Flipping ROI: 28.3% – down from 33.3% year ago
New Jersey
1,645 home flips (6.7% flipping rate)
Gross Flipping Profit: $142,250 – down from $146,000 year ago
Gross Flipping ROI: 44.8% – down from 50.2% year ago
Indiana
2,192 home flips (6.6% flipping rate)
Gross Flipping Profit: $47,856 – down from $65,000 year ago
Gross Flipping ROI: 29.4% – down from 44.8% year ago
Mississippi
250 home flips (6.6% flipping rate)
Gross Flipping Profit: $24,593 – down from $30,131 year ago
Gross Flipping ROI: 12.3% – down from 16.9% year ago
Arkansas
515 home flips (6.5% flipping rate)
Gross Flipping Profit: $54,906 – down from $80,926 year ago
Gross Flipping ROI: 36.2% – down from 62.2% year ago
Rhode Island
203 home flips (6.4% flipping rate)
Gross Flipping Profit: $95,000 – down from $121,000 year ago
Gross Flipping ROI: 25.7% – down from 36.7% year ago
Maryland
1,139 home flips (6.3% flipping rate)
Gross Flipping Profit: $127,750 – down from $184,900 year ago
Gross Flipping ROI: 53.2% – down from 86% year ago
New Mexico
310 home flips (6.3% flipping rate)
Gross Flipping Profit: $8,204 – down from $24,332 year ago
Gross Flipping ROI: 2.8% – down from 8.7% year ago
Wisconsin
1,222 home flips (6.1% flipping rate)
Gross Flipping Profit: $60,829 – up from $59,350 year ago
Gross Flipping ROI: 28.4% – down from 30.4% year ago
Michigan
1,804 home flips (6% flipping rate)
Gross Flipping Profit: $70,882 – up from $69,950 year ago
Gross Flipping ROI: 49.2% – down from 56% year ago
Illinois
2,221 home flips (5.9% flipping rate)
Gross Flipping Profit: $80,250 – down from $89,000 year ago
Gross Flipping ROI: 47.2% – down from 57.1% year ago
Pennsylvania
2,212 home flips (5.9% flipping rate)
Gross Flipping Profit: $107,868 – down from $120,000 year ago
Gross Flipping ROI: 71.8% – down from 85.7% year ago
Maine
381 home flips (5.9% flipping rate)
Gross Flipping Profit: $60,464 – down from $79,508 year ago
Gross Flipping ROI: 18.6% – down from 28.3% year ago
Kansas
317 home flips (5.8% flipping rate)
Gross Flipping Profit: $32,273 – down from $57,494 year ago
Gross Flipping ROI: 10.8% – down from 25.3% year ago
Oregon
698 home flips (5.8% flipping rate)
Gross Flipping Profit: $62,464 – down from $68,500 year ago
Gross Flipping ROI: 15.4% – down from 17.9% year ago
Massachusetts
1,050 home flips (5.6% flipping rate)
Gross Flipping Profit: $126,630 – down from $130,000 year ago
Gross Flipping ROI: 31.3% – up from 31% year ago
Minnesota
982 home flips (5.5% flipping rate)
Gross Flipping Profit: $69,100 – up from $66,952 year ago
Gross Flipping ROI: 27.5% – up from 26.9% year ago
Louisiana
514 home flips (5.4% flipping rate)
Gross Flipping Profit: $77,299 – up from $75,000 year ago
Gross Flipping ROI: 61.8% – down from 62.5% year ago
Connecticut
561 home flips (5.3% flipping rate)
Gross Flipping Profit: $106,750 – down from $117,000 year ago
Gross Flipping ROI: 38% – down from 46.4% year ago
New York
1,825 home flips (5.1% flipping rate)
Gross Flipping Profit: $100,000 – down from $114,337 year ago
Gross Flipping ROI: 28.6% – down from 34.1% year ago
District of Columbia
62 home flips (4.8% flipping rate)
Gross Flipping Profit: $160,050 – up from $145,000 year ago
Gross Flipping ROI: 41% – up from 34.5% year ago
Idaho
244 home flips (4.7% flipping rate)
Gross Flipping Profit: $-4,363 – down from $13,898 year ago
Gross Flipping ROI: -1% – down from 3.3% year ago
Montana
125 home flips (4.5% flipping rate)
Gross Flipping Profit: $48,528 – up from $23,750 year ago
Gross Flipping ROI: 12.2% – up from 5.9% year ago
West Virginia
124 home flips (4.5% flipping rate)
Gross Flipping Profit: $81,500 – up from $41,010 year ago
Gross Flipping ROI: 63.4% – up from 25.6% year ago
Iowa
363 home flips (4.5% flipping rate)
Gross Flipping Profit: $60,000 – down from $71,800 year ago
Gross Flipping ROI: 40% – down from 51.6% year ago
New Hampshire
213 home flips (4.4% flipping rate)
Gross Flipping Profit: $45,000 – down from $75,000 year ago
Gross Flipping ROI: 9.8% – down from 17.6% year ago
Washington
864 home flips (4.1% flipping rate)
Gross Flipping Profit: $97,000 – down from $120,372 year ago
Gross Flipping ROI: 22.2% – down from 29.9% year ago
Hawaii
288 home flips (3.7% flipping rate)
Gross Flipping Profit: $57,604 – up from $15,000 year ago
Gross Flipping ROI: 8.8% – up from 2.3% year ago
Wyoming
59 home flips (3.6% flipping rate)
Gross Flipping Profit: $10,253 – down from $24,831 year ago
Gross Flipping ROI: 3.2% – down from 8% year ago
Vermont
93 home flips (3.4% flipping rate)
Gross Flipping Profit: $130,250 – up from $-2,000 year ago
Gross Flipping ROI: 69% – up from -0.8% year ago
Conclusion
Investor returns from home flipping continued to tighten in the fourth quarter of 2025. A total of 68,999 homes were flipped nationwide, representing 7.2 percent of all sales, while the typical gross ROI fell to 23.6 percent, the lowest level since Q3 2007. Elevated prices and constrained supply made it harder for investors to find deals that produced strong margins. Georgia posted the highest state flipping rate in Q4 2025, followed by Ohio, Texas, and Utah.
Want to learn more about home flipping trends in your area? Contact us to find out how!
