Hottest Zips for Home Flips in Q1 2019

the national rate. The drill down con- sists of those zip codes with at least 10 or more flip sales in Q1 2019.

sold them within 12 months for a median price of $112,500, almost doubling their initial investment. Next on the list is zip code 11433 in Queens county, New York with a flip- ping rate of 35.7 percent. Here, home flippers purchased their investments for a median price of $292,700 and sold for a median price of $487,500, a gross flipping return on investment of 66.6 percent (not including rehab and carrying costs). The three remaining top 5 home flipping zip codes in Q1 2019 were 33147 in Miami-Dade county, Florida (home flipping rate of 32.7

percent); 38115 in Shelby county, Tennessee (home flipping rate of 32.4 percent); 92802 in Orange county, California (home flipping rate of 32.4 percent). Closing out the top 10 list with the highest home flipping rate is zip code 37917 located in Knox county, Tennessee (32.1 percent); 93728 in Fresno county, California (30.8 percent); two zip codes both located in the Miami-Dade county in Florida – 33142 (30.3 percent) and 33168 (27.5 percent); and finally zip code 63033 in Saint Louis county, Missouri (27.4 percent).


A TTOM Data Solutions just released its Q1 2019 Home Flipping report and found that 7.2 percent of all home sales during the first quarter, reached a new high flipping rate, the highest since Q1 2010. The 7.2 percent flipping rate is BY ATTOM DATA SOLUTIONS

Eight out of the top 10 zips with the highest home flipping rates were at more than 30 percent. Leading the list was zip code 93212 located in Kings county, California with a flipping rate of 48.0 percent. In this top California zip code, real estate investors purchased homes for a median price of $72,500 and

up from 5.9 percent in the previous quarter and up from 6.7 percent a year ago. However, while flippers are flipping, gross profits are stumbling. Homes flipped in Q1 2019 sold at an average gross profit of $60,000, down from an average gross flip-

ping profit of $62,000 in the previ- ous quarter and down from $68,000 in Q1 2018 to the lowest average gross flipping profit since Q1 2016. ATTOM Data dug deeper into the data and uncovered those zip codes where the flipping rate was well above

22 think realty housing news report

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