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16 TRACKING HOME FLIPPING ACROSS THE NATION e volume of single-family homes and condos flipped during Q2 2019 was up 12.4% from the prior quarter, but down 5.2% from a year ago, according to ATTOM Data Solutions. Homes flipped during the quarter represented 5.9% of all home sales during the quarter, which is down from the post-recession high of 7.2% in Q1 2019. Additionally, homes flipped in Q2 2019 generated a gross profit of $62,700—a 2% increase from the previous quarter and 2% below last year's numbers. e gross profit from the homes flipped in Q2 2019 is a 39.9% ROI compared to the price it was purchased for, which is a sight decline from the ROI of 40.9% from the prior quarter. ATTOM states returns on homes flipped have dropped six-consecutive quarters and eight out of the last 10. Returns currently stand at the lowest level since Q 4 2011. "Home flipping keeps getting less and less profitable, which is another marker that the post-recession housing boom is softening or may be coming to an end," said Todd Teta, Chief Product Officer at ATTOM Data Solutions. "Flipping houses is still a good business to be in and profits are healthy in most parts of the country. But push-and-pull forces in the housing market appear to be working less and less in investors' favor. at's leading to declining profits and a business that is nowhere near as good as it was a few years ago." Although the home-flipping rate fell nationally from last year, several markets posted big gains in the share of homes flipped. Raleigh, North Carolina, led the nation with a 72% increase in home flipping, followed by fellow Tarheel State market Charlotte, which saw a 54% increase. Atlanta, Georgia, posted a 46% increase; San Antonio, Texas, saw home flipping jump 46%; and Tucson, Arizona, recorded a 43% hike. Investors are thriving in Scranton, Pennsylvania, as it leads the nation in gross ROI at 134%. Pittsburgh, Pennsylvania, has gross ROIs of 132.5%, and is followed by Reading, Pennsylvania (129.3%); Kingsport, Tennessee (104.1%); and Augusta, Georgia (101.1%). ATTOM states it took an average of 184 days to complete a flip in Q2 2019, which is a slight increase from 180 days the prior quarter and 183 days last year. CRFS is on the prowl for mortgage claims professionals. On site and remote opportuni es are now available at CRFS! If you have experience in the Mortgage Claims industry, we'd like to talk with you. We're looking for motivated people who: • Are analy cal and can follow procedures and guidelines • Have strong organiza onal and me management skills • Are comfortable in a high-volume, goal-oriented environment • Enjoy working as part of a team in a collabora ve se ng • Are eager to grow with us through a defined career path If this is you, contact us today to learn how you can join our team at the industry's top claims provider. Visit crfservices.com/careers or call 585.589.0800 to learn more.