Business

How many Atlanta homes were flipped so far this year?

When it comes to flipped houses in the first quarter of 2016, Atlanta fell .3 percent below the national average, according to a recent report from RealtyTrac.
When it comes to flipped houses in the first quarter of 2016, Atlanta fell .3 percent below the national average, according to a recent report from RealtyTrac.
By Fiza Pirani
Aug 4, 2016

Ever been inspired to gut a house after watching HGTV's "Flipping the South" or "Flip or Flop?"

The practice might be on the rise. In some metropolitan cities, house flipping hit all-time highs in the first quarter of 2016.

Atlanta, however, didn't make the cut.

In fact, Atlanta fell .3 percent below the national average.

According to a recent report from RealtyTrac, a leading source for housing data, only 6.3 percent of the market in Atlanta in the first quarter of 2016 is from flipped houses.

But nationally, the report found, home flipping increased 20 percent from the previous quarter and 3 percent year over year. Additionally, the number of flippers grew by 8 percent from the first quarter of 2015.

RealtyTrac analysts examined data from 950 counties — more than 80 percent of the U.S. population — and found that in the quarter, 6.6 percent (43,740) of all single family home and condo sales were flips.

And although that rate is 26 percent below the 9 percent share peak from 2006, it's still 55 percent above the recent slump. Just two years ago in the third quarter of 2014, only 4.3 percent of total home sales were flips.

These nine metropolitan cities reached all-time highs in the recent quarter:

Though Atlanta's home flipping numbers are below the national average, the metro was recently named among the highest for home-flip potential.
According to finance website WalletHub, Atlanta recently ranked No. 20 out of 150 metros when it comes to house-flipping potential. 
The study looked at 19 key metrics, including median purchase price, average remodeling costs and housing-market health index.

About the Author

Fiza Pirani is an Atlanta-based freelance writer and editor.

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