Cincinnati among few markets to see boost in housing flip returns
Cincinnati among few markets to see boost in housing flip returns.
Greater Cincinnati’s booming housing market has created other opportunities for home flippers, and the Flippers are seeing positive results because of those increased opportunities.
While a recent report from Attom, a property data provider, found the investment returns for home flips plummeted 15% nationwide since 2020, Cincinnati once again proved its housing market is an outlier.
Cincinnati was among the 33% of metropolitan markets analyzed by Attom that saw a boost in investment returns between 2021 and 2022, with ROI up to 47.4% from 38.4% the previous year.
“We continue to see demand,” said Slocomb Reed, director of investment services with the Chabris Group at Keller Williams Seven Hills Realty. “Demand on the whole has decreased drastically year over year, and especially since 2021 at 3% interest rates. However, demand continues to outpace supply.”
If home flipping is on the rise in Greater Cincinnati, Reed said it’s because home rehabbers are seeing proven results. Neighborhoods such as Northside, Norwood and Walnut Hills continue to be hot for home flippers as more white-collar professionals and homebuyers move into those areas.
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