Home flippers were busy in 2022, but profits sank
The number of homes flipped last year reached a two-decade high, but average gross margins declined, and market conditions may deter flippers in 2023.
April 2, 2023
Dave Gallagher
Director, News Reporting
Dave's journalism career spans 24 years covering business, the economy and real estate in Northwest Washington. He's also a numbers nerd, examining data to spot emerging trends in industries. Having started his career as a sports writer, he's a lifelong baseball and soccer fan and recently discovered pickleball. He grew up in Yosemite National Park and earned his journalism degree at Humboldt State University in northern California.
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- Mortgage rates continue 3-week declineSince peaking in November, rates have been up and down — and up and down. Economists say it's hard to predict what's next, but buyers may want to act now.March 30, 2023
- Only 5 of the top 20 real estate companies boosted sales in 2022In a tough year for real estate, many of the top companies and franchise brands held onto their rankings, but only a few were able to grow sales volume.March 30, 2023
- Pending sales signal modest improvement in housing marketNAR reported that February pending home sales were up 0.8% from January, making it the third consecutive month of increases.March 29, 2023
- MLS-owned Nestfully wants to make home shopping more pleasantThe new home search platform, a joint venture between Bright MLS and CRMLS, aims to inspire a sense of calm and simplify the process for consumers and agents.March 29, 2023
- Price growth continues to slow, especially in the WestThe Case-Shiller and FHFA indices reported dips in annual and monthly home price appreciation, with current levels reflecting more typical rates of growth.March 28, 2023
- Boomers are now biggest group of buyersMillennials dominated the market in 2021, but as affordability pushed younger buyers to the sidelines, boomers took over as the top group of buyers 2022.March 28, 2023
- Mortgage interest rates fall for a second weekRates dropped to 6.42% this week, down significantly from 6.73% just two weeks ago, which could give buyers a window to act.March 23, 2023
- Fed moves forward with modest rate hikeThe Federal Reserve increased its benchmark rate by a quarter point, which is likely to influence mortgage rates and slow homebuying activity this spring.March 22, 2023
- What's your digital marketing score? A new tool will tell youSphereBuilder, a new platform for agents and brokers, evaluates the effectiveness of online marketing — a critical tool for lead generation.March 22, 2023
- Home sales way up in February, but spring numbers could dipNAR reported a big jump in existing home sales from January to February, though sales and prices are down compared to a year ago.March 21, 2023
- Tech 200: Moving closer to real estate’s 'holy grail'T3 Sixty’s assessment of who's leading in real estate tech includes 199 products from 78 companies.March 21, 2023
- Smaller homes in demand as affordability stymies buyersZillow research found that homes with the smallest footprints have seen a higher rate of price growth and an annual decline in inventory.March 20, 2023
- Kamini Lane takes on top role at Coldwell BankerLane, previously brokerage president of Sotheby's Realty, steps into the role vacated by Ryan Gorman in December.March 20, 2023
- For homeowners, joy can trump ROI when choosing outdoor projectsIn a new report, the outdoor projects that rank highest on the "joy scale" tend to have lower recovery costs, suggesting that ROI isn't always a top concern.March 17, 2023
- Real posts net loss for 2022 but sees a turnaround comingDespite a challenging real estate market, CEO Tamir Poleg expects the company’s EBITDA to turn positive in the second half of 2023.March 16, 2023
- After a topsy-turvy week, mortgage rates dropIn the wake of turbulence in the banking sector, the 30-year fixed-rate mortgage fell to 6.6%, down from 6.73% a week ago.March 16, 2023
- Anywhere CEO sees opportunities, advantages of scaleRyan Schneider, leader of one of the largest real estate enterprises, believes the company will benefit from continued investments, even in a downturn.March 16, 2023
- Homeowners have $90K more home equity than pre-pandemicA CoreLogic report found that average home equity rose more than 7% in 2022 — a small gain relative to the big jump seen in 2021, but still above average.March 15, 2023
- Florida a rising MVP with #2 most valuable housing marketWith the value of its residential real estate surpassing $3.6 trillion, Florida edged out New York but trails California among markets with the top home values.March 15, 2023
