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According to ATTOM’s Year-End 2022 U.S. Home Flipping Report, there were 407,417 single-family homes and condos flipped in the U.S. in 2022. That figure was up 14 percent from 357,666 in 2021 and 58 percent from 2020, to the highest point since at least 2005.

ATTOM’s latest home flipping analysis revealed that the number of homes flipped by investors last year represented 8.4 percent of all home sales, also the largest figure since at least 2005, and up from 5.9 percent in 2021 and 5.8 percent in 2020.

The report noted that even as quick buy-renovate-and-resell turnarounds by investors shot up, gross profit margins on home flips in 2022 sank to their lowest level since 2008 following the second major drop in two years.

ATTOM’s year-end flipping report also found that homes flipped in 2022 typically generated a gross profit of $67,900 nationwide (the difference between the median sales price and the median amount originally paid by investors).

The report noted that figure was down 3 percent from $70,000 in 2021 and translated into just a 26.9 percent return on investment compared to the original acquisition price. According to the report, the latest nationwide ROI (before accounting for mortgage interest, property taxes, renovation expenses and other holding costs) was down from 32.6 percent in 2021 and from 41.9 percent in 2020.

Also according to the report, investors saw their profit margins drop for the fifth time in the past six years as the median value of the homes they flipped rose more slowly than the median price they paid to purchase properties – 12 percent versus 17 percent.

ATTOM’s year-end flipping report noted that among the 56 metro areas in the U.S. with a population of 1 million or more, those with the largest gross flipping profits in 2022 were San Jose, CA ($242,625); San Francisco, CA ($163,000); Washington, DC ($146,728); New York, NY (141,332) and Seattle, WA ($137,664).

In this post, we dive deep into the data behind ATTOM’s latest U.S. Home Flipping Report to uncover those top U.S. counties with the greatest home flipping profits in 2022. This counties include: San Mateo County, CA ($350,000 gross flipping profit); Frederick County, MD ($343,362); Loudon County, TN ($325,900); Marin County, CA ($300,000); Sussex County, DE ($298,108); Monroe County, FL ($260,000); Kauai County, HI ($254,876); Santa Clara County, CA ($252,500); Washington County, PA ($252,472); and Fauquier County, VA ($250,000).

ATTOM Chart on Top 10 Counties with Greatest Home Flipping Profits in 2022

ATTOM’s Year-End 2022 home flipping analysis also reported that among the 955 counties with at least 50 home flips in 2022, there were 219 counties where flips accounted for at least 10 percent of all home sales last year.

The report noted the top five were all in Georgia: Douglas County, GA (outside Atlanta) (19.5 percent); Lumpkin County, GA (north of Atlanta) (19.2 percent); Clayton County, GA (outside Atlanta) (18.6 percent); Paulding County, GA (outside Marietta) (18.5 percent) and Rockdale County, GA (outside Atlanta) (18 percent).

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