ATTOM recently released its Q1 2026 U.S. Home Flipping Report showing that 64,348 single-family homes and condominiums were flipped in the first quarter, accounting for 8 percent of home sales from January through March.
The flipping rate, as a percentage of total sales nationwide, was up from 7.2 percent the previous quarter but down from 8.2 percent at the same time last year. The overall number of flips was also down from 69,711 in the fourth quarter of 2025 and from 70,579 in the first quarter of 2025.
As to home flipping historical trends, the typical profit margin for a flipped home crept up to 25.4 percent in the first quarter from 24.7 percent in the previous quarter, which had been its lowest point since mid-2008. That was still below profit margins at the same time last year, however, when the typical flipped home generated 29.6 percent returns.
ATTOM also revealed that gross profits, the difference between what flippers purchased and sold homes for, were also up, from $64,300 last quarter to $66,000 in the first quarter of 2026. Although that, too, was below the typical gross profit of $74,172 recorded in the first quarter of 2025.
“The first increase in flipping returns in nearly two years is a welcome sign for investors,” ATTOM CEO Rob Barber said in the analysis. “The market remains far more competitive than it was during the peak profit years, but this quarter’s gains suggest that conditions may be stabilizing. Success still depends heavily on local market dynamics, with some metros producing strong returns while others remain difficult places to flip profitably.”
ATTOM stated that the rate of flips, as a share of overall home sales, rose quarter-over-quarter in 77 percent (134) of the 174 metropolitan statistical areas with sufficient data to analyze. Year-over-year, however, flipping rates declined to 56.3 percent (98) of the metros. The metro areas with the highest flipping rates in the first quarter were Columbus, Ga. (15.2 percent); Atlanta (12.3 percent); Canton, Ohio (12.3 percent); York, Pa. (12.2 percent); and Spartanburg, S.C. (12.1 percent).
After Atlanta, the metro areas with populations over 1 million that had the highest flipping rates were Cleveland (12.1 percent); Dallas (11.9 percent); Kansas City, Mo. (11.5 percent); and Memphis, Tenn. (11.2 percent). Of those largest metro areas, the lowest flipping rates were in Seattle, Wash. (5.1 percent); Tulsa, Okla. (5.1 percent); Honolulu (5.3 percent); New Orleans (5.4 percent); and Miami (5.5 percent).
Profit margins from home flipping rose quarter-over-quarter in 55.2 percent (96) of the 174 metro areas analyzed. Among metros with populations over 1 million, the largest typical profit margins were in Pittsburgh, Pa. (85.9 percent); Buffalo, N.Y. (84 percent); Virginia Beach, Va. (74.9 percent); Baltimore, Md. (65.9 percent); and Philadelphia, Pa. (62 percent).
Among those largest markets, the smallest typical profit margins were in Texas reflecting Austin (2 percent), Dallas (4.3 percent), San Antonio (5.1 percent), Houston (7.2 percent); and Salt Lake City (9.5 percent).
Flipped homes originally purchased for less than $50,000 tended to lose money in the first quarter, generating a typical loss of 14 percent. The largest return on investment tended to come from homes originally acquired for between $100,000 and $200,000, which generated typical profit margins of 32 percent.
On a national level, 61.1 percent of flipped homes were purchased with all cash, down from 61.4 percent the previous quarter but up from 59.6 percent at the same time last year.
The metro areas with the highest rates of flipped homes purchased with cash in the first quarter were Flint, Mich. (91 percent); Spartanburg, S.C. (79.7 percent); Naples, Fla. (79.2 percent); Buffalo, N.Y. (78.7 percent); and Cape Coral, Fla. (77.5 percent).
Nationwide, it took the typical home flipped in the first quarter 165 days to flip, up from 160 days the previous quarter and 164 days at the same time last year.
The share of flipped homes sold to buyers using Federal Housing Administration-backed mortgages dipped in the first quarter to 10.2 percent from 10.6 percent in the previous quarter and 11.7 percent at the same time last year.
The metro areas with the highest shares of flipped homes sold to FHA buyers were Visalia, Calif. (30.7 percent); Fort-Smith, Ark. (30.2 percent); Spokane, Wash. (25.2 percent); Shreveport, La. (24.4 percent); and Bakersfield, Calif. (24.2 percent).