House-flipping profits continued to rebound in the second quarter, according to ATTOM.
That's as home prices grew between the time a property was purchased and sold.
Gross profit on a typical house flip increased to $66,500 in the second quarter, up 18% from $56,250 in the first quarter, though that's well below the all-time high of $102,063 in 2022.
AdvertisementAdvertisementThe rebound came as the median price for a single-family home spiked 10% during the spring buying season.
High demand and low inventory in the housing market have helped drive residential prices up through this year.
Persons:
That's, ATTOM, Gross, Rob Barber
Organizations:
Service
Locations:
Wall, Silicon