Metro Winston-Salem was one of the country’s hottest markets for home flipping during the third quarter of 2022, according to ATTOM’s 2022 U.S. Home Flipping Report. Nationwide, home flipping transactions dropped to 7.5% of all home sales in the third quarter of last year, down from 8.2% in the second quarter. Still, “flipping activity in the third quarter was among the highest on record,” according to Rick Sharga, executive vice president of market intelligence at ATTOM, though “gross profits and profit margins declined significantly.”

Meanwhile, the Winston-Salem area home flipping activity hummed along at an impressive 12.7% of all home sales in the third quarter of 2022. In the Triad, there were 859 home flipping transactions in eight counties, with Davidson County reporting 14% of its sales from flips and Forsyth County 13.6%. Alamance County had the highest gross profit from flips in the second quarter ($96,455) while Rockingham County had the highest percentage of the gross profit (127.5%).

Other metros areas with the largest flipping rates during the third quarter of 2022 were Phoenix, AZ (flips comprised 13.7% of all home sales); Spartanburg, SC (13.3%); Atlanta, GA (12.9%); and Gainesville, GA (12.6%). 

For more information on ATTOM’s report, click here.

Are you interested in flipping homes in Winston Salem or the surrounding areas? The good news is that you might not need to use your own money if you want to start investing today. There are many funding options available exclusively for investors. Call The Sharpe Mortgage Team today so we can discuss your financial goals and find a loan program that is right for you.