What is the Current Home Flipping Rate in the U.S.?
In the second quarter of 2025, home flipping activity declined slightly quarter-over-quarter, as profit margins fell to their lowest level in 17 years.
- Total flips: 78,621 single-family homes and condos flipped
- Share of all sales: 7.4% of total home sales from April through June
- Quarter-over-quarter change: Down from 8.3% in Q1 2025
- Year-over-year change: Slightly below the 7.5% share in Q2 2024
Top flipping markets: Georgia led the nation, with high activity in Atlanta, Macon, and Warner Robins.
Home Flipping Profits and Price Trends
- National ROI: 25.1% gross return (down from 26.4% in Q1 2025) —the lowest since Q2 2008
- National gross profit: $65,300 (down 4% from Q1; down 13.6% YoY)
- Median purchase price: $259,700 — highest on record since 2000
- Median resale price: $325,000 — unchanged from Q1
Summary: Profit margins have been shrinking for over a decade. Compared to a 62.9% ROI in 2012, today’s margins reflect tighter conditions as acquisition costs continue rising and investor competition remains high.
What’s Driving Q2 2025 Flipping Trends?
Investors continue to face affordability hurdles, especially at the lower end of the market. With fewer distressed or undervalued properties available, many are paying more upfront, cutting into potential profits.
According to ATTOM CEO Rob Barber, “The initial buy-in for properties that are ideal for flipping keeps going up,” and this has intensified competition between investors and first-time buyers in affordable markets.
Flipping Rates by State – Q2 2025
Below is a complete state by state look at investor activity, profits, and ROI across the U.S.
Alabama
1,249 home flips (9.3% flipping rate)
Gross Flipping Profit: $77,000 – up from $56,060 year ago
Gross Flipping ROI: 55% – up from 40.5% year ago
Arizona
3,009 home flips (8.8% flipping rate)
Gross Flipping Profit: $53,000 – down from $55,000 year ago
Gross Flipping ROI: 15.4% – down from 15.9% year ago
Arkansas
547 home flips (6.9% flipping rate)
Gross Flipping Profit: $59,588 – up from $53,400 year ago
Gross Flipping ROI: 42.4% – up from 37.7% year ago
California
6,455 home flips (7.5% flipping rate)
Gross Flipping Profit: $112,000 – down from $125,000 year ago
Gross Flipping ROI: 17.7% – down from 20.8% year ago
Colorado
1,614 home flips (6.9% flipping rate)
Gross Flipping Profit: $68,100 – down from $75,200 year ago
Gross Flipping ROI: 15.8% – down from 17.9% year ago
Connecticut
590 home flips (5.7% flipping rate)
Gross Flipping Profit: $112,000 – up from $105,000 year ago
Gross Flipping ROI: 40.7% – up from 38.2% year ago
Delaware
333 home flips (8.2% flipping rate)
Gross Flipping Profit: $75,000 – down from $209,949 year ago
Gross Flipping ROI: 27.3% – down from 100% year ago
Florida
6,706 home flips (6.9% flipping rate)
Gross Flipping Profit: $71,815 – down from $74,950 year ago
Gross Flipping ROI: 26.8% – down from 27.3% year ago
Georgia
5,870 home flips (12.2% flipping rate)
Gross Flipping Profit: $52,717 – down from $56,334 year ago
Gross Flipping ROI: 20.2% – down from 21.8% year ago
Hawaii
330 home flips (4.6% flipping rate)
Gross Flipping Profit: $121,078 – down from $178,314 year ago
Gross Flipping ROI: 18.7% – down from 33.7% year ago
Idaho
266 home flips (4.4% flipping rate)
Gross Flipping Profit: $40,802 – up from $28,044 year ago
Gross Flipping ROI: 10.3% – up from 7% year ago
Illinois
2,423 home flips (6.1% flipping rate)
Gross Flipping Profit: $87,500 – down from $102,000 year ago
Gross Flipping ROI: 50.7% – down from 65.8% year ago
Indiana
3,001 home flips (7.8% flipping rate)
Gross Flipping Profit: $65,693 – down from $67,500 year ago
Gross Flipping ROI: 41.3% – down from 47.4% year ago
Iowa
413 home flips (4.4% flipping rate)
Gross Flipping Profit: $47,500 – down from $57,750 year ago
Gross Flipping ROI: 31.7% – down from 37.3% year ago
Kansas
376 home flips (5.9% flipping rate)
Gross Flipping Profit: $45,475 – up from $39,608 year ago
Gross Flipping ROI: 15.7% – down from 16.5% year ago
Kentucky
710 home flips (6.3% flipping rate)
Gross Flipping Profit: $74,900 – down from $88,050 year ago
Gross Flipping ROI: 48.3% – down from 65.7% year ago
Louisiana
581 home flips (5.1% flipping rate)
Gross Flipping Profit: $72,250 – down from $74,748 year ago
Gross Flipping ROI: 60.2% – down from 63.3% year ago
Maine
294 home flips (5.1% flipping rate)
Gross Flipping Profit: $60,000 – down from $80,000 year ago
Gross Flipping ROI: 18.8% – down from 30.2% year ago
Maryland
1,567 home flips (7.7% flipping rate)
Gross Flipping Profit: $165,000 – down from $165,000 year ago
Gross Flipping ROI: 75% – down from 78.6% year ago
Massachusetts
1,094 home flips (5.4% flipping rate)
Gross Flipping Profit: $159,991 – up from $155,235 year ago
Gross Flipping ROI: 39% – down from 42.6% year ago
Michigan
2,389 home flips (7.2% flipping rate)
Gross Flipping Profit: $80,100 – up from $71,000 year ago
Gross Flipping ROI: 57.3% – up from 55% year ago
Minnesota
1,029 home flips (5.6% flipping rate)
Gross Flipping Profit: $70,100 – up from $61,876 year ago
Gross Flipping ROI: 25.7% – up from 24.9% year ago
Mississippi
295 home flips (6.6% flipping rate)
Gross Flipping Profit: $10,807 – down from $28,432 year ago
Gross Flipping ROI: 4.8% – down from 15.2% year ago
Missouri
2,136 home flips (9.1% flipping rate)
Gross Flipping Profit: $41,814 – down from $46,647 year ago
Gross Flipping ROI: 20.8% – down from 25.5% year ago
Montana
115 home flips (3.9% flipping rate)
Gross Flipping Profit: $-6,577 – down from $14,081 year ago
Gross Flipping ROI: -1.4% – down from 3.3% year ago
Nebraska
356 home flips (6.1% flipping rate)
Gross Flipping Profit: $70,000 – down from $88,000 year ago
Gross Flipping ROI: 36.8% – down from 50.3% year ago
Nevada
1,330 home flips (8.7% flipping rate)
Gross Flipping Profit: $67,612 – down from $70,000 year ago
Gross Flipping ROI: 18.2% – down from 20% year ago
New Hampshire
211 home flips (4.3% flipping rate)
Gross Flipping Profit: $65,000 – down from $88,000 year ago
Gross Flipping ROI: 14.4% – down from 21.4% year ago
New Jersey
1,624 home flips (6.9% flipping rate)
Gross Flipping Profit: $130,000 – down from $132,000 year ago
Gross Flipping ROI: 40% – down from 45.8% year ago
New Mexico
335 home flips (6.2% flipping rate)
Gross Flipping Profit: $10,556 – down from $27,916 year ago
Gross Flipping ROI: 3.7% – down from 10.8% year ago
New York
2,056 home flips (6.4% flipping rate)
Gross Flipping Profit: $100,000 – down from $134,370 year ago
Gross Flipping ROI: 29.4% – down from 42.6% year ago
North Carolina
2,971 home flips (7.7% flipping rate)
Gross Flipping Profit: $50,000 – down from $79,348 year ago
Gross Flipping ROI: 20% – down from 37.1% year ago
North Dakota
59 home flips (3.5% flipping rate)
Gross Flipping Profit: $58,327 – up from $57,950 year ago
Gross Flipping ROI: 23.4% – down from 26.1% year ago
Ohio
4,984 home flips (10.2% flipping rate)
Gross Flipping Profit: $59,052 – down from $61,000 year ago
Gross Flipping ROI: 37.9% – down from 44.2% year ago
Oklahoma
967 home flips (7.9% flipping rate)
Gross Flipping Profit: $50,000 – down from $65,266 year ago
Gross Flipping ROI: 33.3% – down from 49.9% year ago
Oregon
642 home flips (4.9% flipping rate)
Gross Flipping Profit: $60,698 – down from $70,000 year ago
Gross Flipping ROI: 15% – down from 18.2% year ago
Pennsylvania
2,431 home flips (6.5% flipping rate)
Gross Flipping Profit: $105,306 – down from $114,600 year ago
Gross Flipping ROI: 70.2% – down from 84.6% year ago
Rhode Island
245 home flips (7.3% flipping rate)
Gross Flipping Profit: $121,868 – up from $110,000 year ago
Gross Flipping ROI: 35.7% – up from 33.3% year ago
South Carolina
1,898 home flips (8.4% flipping rate)
Gross Flipping Profit: $46,300 – down from $65,928 year ago
Gross Flipping ROI: 21.3% – down from 31.5% year ago
Tennessee
2,448 home flips (9.0% flipping rate)
Gross Flipping Profit: $85,250 – down from $110,000 year ago
Gross Flipping ROI: 43.8% – down from 64.7% year ago
Texas
6,680 home flips (8.4% flipping rate)
Gross Flipping Profit: $28,938 – up from $21,672 year ago
Gross Flipping ROI: 10.2% – up from 8% year ago
Utah
1,004 home flips (8.5% flipping rate)
Gross Flipping Profit: $27,629 – down from $51,265 year ago
Gross Flipping ROI: 5.8% – down from 11.5% year ago
Vermont
79 home flips (3.8% flipping rate)
Gross Flipping Profit: $105,000 – up from $24,500 year ago
Gross Flipping ROI: 70% – up from 12% year ago
Virginia
2,003 home flips (6.4% flipping rate)
Gross Flipping Profit: $115,000 – down from $125,000 year ago
Gross Flipping ROI: 50% – down from 59.5% year ago
Washington
1,031 home flips (4.1% flipping rate)
Gross Flipping Profit: $113,500 – down from $135,100 year ago
Gross Flipping ROI: 26.1% – down from 33.8% year ago
West Virginia
146 home flips (5.2% flipping rate)
Gross Flipping Profit: $60,965 – up from $58,400 year ago
Gross Flipping ROI: 43.8% – up from 36.2% year ago
Wisconsin
1,411 home flips (6.7% flipping rate)
Gross Flipping Profit: $65,617 – down from $66,794 year ago
Gross Flipping ROI: 32.1% – down from 35.5% year ago
Conclusion
Home flipping remained active across the U.S. in the second quarter of 2025, but investor profits continued to shrink, with the typical gross return on investment dropping to 25.1 percent—the lowest level since 2008. Although flipping volume dipped slightly from the prior quarter, the median purchase price surged to a record $259,700, further compressing margins as acquisition costs remained high. Limited inventory and elevated home prices fueled intense competition between investors and first-time buyers, particularly for affordable properties. Georgia emerged as a hotspot for flipping, with multiple counties and metro areas recording some of the highest flipping rates nationwide.
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