The Atlantic City metropolitan statistical area saw the second largest decrease in home-flipping rates in the country in 2021, according to a report issued by ATTOM, a real estate data curator.
Home flipping — the practice of selling a property shortly after buying to turn a quick profit — fell as a share of all home sales from 2020 to 2021. This drop in home-flipping rates was most pronounced in the West and Northeast, with nine of the top 10 largest decreases happening in those regions.
Flipping in the Atlantic City-Hammonton area decreased 73% in 2021 from 2020 — second only to Honolulu, which saw an 83% decrease. According to statistics ATTOM provided to The Press of Atlantic City, the 126 homes flipped in the area in 2021 accounted for 1.8% of total house sales in the area. Read More from Press of Atlantic City.