Home Flipping Plummets Nationwide in 2023


In 2023, 308,922 single-family homes and condos were flipped in the United States, according to ATTOM’s year-end 2023 U.S. Home Flipping Report. This marks a 29.3% decline from 436,807 in 2022—the largest annual drop since 2008. In short, home flipping plummeted in 2023.

Additionally, investment returns declined at their fastest pace in the last 15 years in 2023, with investment returns on flips dropping to the lowest level since 2007.

“In 2023, the landscape for home flipping across the U.S. became increasingly challenging,” said ATTOM CEO Rob Barber. “Whether the overall market has soared or seen just modest gains in recent years, investors have missed out on the action.”

Barker continued, saying that “the sharp decline in the number of home flips likely reflected a combination of a tight supply of homes for sale as well as dwindling returns. Either way, it will take some significant reworking of the financials for home flipping fortunes to turn back around.”

The report also details that while the number of homes flipped by investors declined, so did flips as a portion of all home sales—from 8.6% in 2022 to 8.1% in 2023.

Profits and profit margins also experienced a drop off on quick projects. For example, according to the report, gross profits on typical home flips dropped to $66,000, down from $70,100 in 2022, which translated to a 27.5% ROI compared to original acquisition price.

Investors saw their profit margins decrease last year for the sixth time in seven years, while the median price of the homes investors flipped dropped quicker than the median price they paid to purchase properties—4.4% versus 4%.

For the full report, click here.





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