Though home flipping plateaued nationally in the second quarter of this year, Baton Rouge is one 54 metro areas that went against the trend, posting a year-over-year increase in the number of homes sold twice within a 12-month period.
Home flipping—defined as a property that is sold in an arm’s-length sale for the second time within a year—rose 72% in Baton Rouge in the second quarter, according to a new report from ATTOM Data Solution, a national multi-sourced property database. That’s the highest of any metro area.
Nationally, 53,638 single family homes and condos were flipped during the second quarter—at a rate of 5.6% for all homes sales during the quarter. That’s unchanged from one year ago.
The average gross profit on a flipped home was $67,516, representing a 48.4% return on investment for flippers—down from 49% in the previous quarter and down from 49.6% in the second quarter of 2016.
