More single-family and condo homes were flipped in the third quarter compared to the second quarter. Home flips accounted for 5.7% of home sales in the third quarter, according to the Q3 2021 U.S. Home Flipping Report released by ATTOM Data Solutions. But while flipping activity is edging higher, profits aren’t. Read more: Home Flipping Rises, Even as Profits Shrink
Still, in some areas of the country, home flipping remains a hot business. Researchers define a flip as a situation in which the purchase and the sale of a property occur within 12 months.
ATTOM Data Solutions reports the following 10 U.S. counties saw the highest home flipping rates in the third quarter.
- Camden County, N.C.: 15.9%
- Lumpkin County, Ga.: 15.1%
- Logan County, Ky.: 14.7%
- Canadian County, Okla.: 14.4%
- Adams County, Ohio: 13.4%
- Iberville County, La.: 12.5%
- Mccurtain County, Okla.: 12.5%
- Palo Pinto County, Texas: 12.4%
- Fannin County, Ga.: 12.2%
- Dekalb County, Tenn.: 12.1%
In the third quarter, home flippers took an average of 147 days to complete the transactions. In the following counties, home flippers are quickest with their flips, taking the shortest average time for a transaction:
- Marion County, Ore.: 23 average days to flip
- Cape May County, N.J.: 37 days
- Lumpkin County, Ga.: 38 days
- Liberty County, Ga.: 42 days
- Kauai County, Hawaii: 48 days