Out of every state and city in the nation, Washington, D.C., had the highest number of home flips in Q1 2017, according to real estate provider ATTOM Data Solutions. The Washington Post reported that Maryland ranked as having the fifth highest number of home flips in that time span with the majority of these flips in Prince George’s County.
In the District, home flips increased 10.7 percent quarter-over-quarter and 32 percent year-over-year. The only state to have a higher yearly increase than D.C. was Hawaii, which had a 36 percent jump. Maryland’s home flips grew 8.5 percent quarter-over-quarter.
Despite these increases, home flips are generally decreasing. Home flips across the country were down 8 percent from the previous quarter and 6 percent from the previous year.
When it comes to the average return on these home flips, The Washington Post reported that the District had a 58.3 percent profit margin, while Maryland had a 79.3 percent profit margin. Across the nation, the average profit margin for this year’s first quarter was 47.4 percent.
• Home flipping soars in the District and Maryland [The Washington Post]