This week ATTOM Data Solutions released its Q4 and 2018 Year-End Home Flipping report. The report showed that 207,957 U.S. single family homes and condos were flipped in 2018, down 4 percent from the 216,537 home flips in 2017.
However, did you know that ATTOM Data drills all the way down to the zip code level for this specific report? In fact, most of ATTOMs reports consist of various granular geo levels being analyzed, but the flipping report can really help real estate investors who are looking for their next move.
Average time to flip down slightly from 2017
Homes flipped in 2018 took an average of 180 days to complete the flip, down from 181 days in 2017 but up from 159 average days to flip 10-years ago.
Among 6,013 zip codes with at least 10 home flips completed in 2018 and a population greater than 5,000, those with the longest average time to flip were in zip codes 95742 located in Sacramento, California (301 days); 85935 located in Show Low, Arizona (285 days); 77441 located in Houston, Texas (285 days); 98116 located in Seattle, Washington (280 days); and 53532 located in Madison, Wisconsin (277 days).
Suraj Shrestha is an associate at Harborside Partners. He has been taking the lead role on research projects; to develop and implement online marketing strategies for search engine optimization and social media marketing. He is one of the core parts for helping to grow business revenue and the company’s online presence.