HOUSINGNEWS REPORT
DATA IN ACTION
DATA IN ACTION
HOTTEST ZIPS FOR HOME FLIPS IN Q1 2017
HOTTEST HOME FLIPPING ZIPS IN Q1 2017 Q1 2017 HOME FLIPPING RATE (PCT OF SALES)
2.9%
34.2%
Flipped homes accounted for at least one in every five home sales in 72 U.S. zip codes in the first quarter of 2017 — well above the national average of 6.7 percent of all home sales that were flips in the first quarter, according to the ATTOM Data Solutions Q1 2017 U.S. Home Flipping Report. Five of the top 10 zips with the highest home flipping rates were in the city of Memphis, led by 38118, where more than one in every three home sales (34.2 percent) in the first quarter was a flip. In this top Memphis zip code, real estate investors purchased homes for a median price of $38,000 and sold them within 12 months for a median
price of $79,000, more than doubling their initial investment.
Two zip codes in the District of Columbia were also ranked among the top 10 zip codes with the highest home flipping rates in the first quarter, led by 20032, where 33.3 percent of all home sales during the quarter were flips. In this DC zip code, home flippers purchased their investments for a median price of $160,000 and sold for a median price of $310,000, a gross flipping return of 93.8 percent (not including rehab and carrying costs).
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21040 in the city of Edgewood, Maryland, in the Baltimore metro area (home flipping rate of 28.7 percent); 35005 in the city of Adamsville, Alabama, in the Birmingham metro area (28.3 percent); and 90002 in the city of Los Angeles, California (27.8 percent).
The three remaining top 10 home flipping zip codes in Q1 2017 were
22
JULY 2017 | ATTOM DATA SOLUTIONS
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