Flipping Profits Are Holding, Returns Are Not: Q2 2026 Numbers for Florida

10 October 2026 · SFR Capital

ATTOM published its second-quarter 2026 home flipping report on October 1. The headline for Florida operators is not that flipping stopped working — it is that the margin for getting it wrong has thinned for the third quarter running.

The national picture

That 21.5% return is down from 25.7% in the first quarter and 27.6% a year ago. Ohio, Arizona, Nevada and Texas led the country on flip rate. FHA buyers took 10.7% of flipped homes sold, which matters more than it sounds: an FHA exit means an appraisal and a minimum-property-standards inspection, and it is a slower, fussier buyer than the cash purchaser a lot of budgets assume.

Florida

Florida is beating the nation on both profit and return, and losing ground on both. The state flips at roughly the national rate, turns about $7,500 more per deal, and clears a return 2.6 points better. None of that is the number to plan around.

Gross profit is not profit

ATTOM's figure is the difference between the purchase price and the resale price. It does not subtract the rehab, the holding costs, the insurance, the taxes, the realtor commission or the financing. A $68,000 spread on a Florida house with a $35,000 scope of work, five months of carry and 6% in selling costs is not a $68,000 outcome; depending on the exit it can be most of the way to zero. We wrote the full arithmetic out in what a fix-and-flip loan actually costs, and the honest version of a scope in building a rehab budget that survives contact with the house.

161 days is the number that moved

Five and a half months is the average hold, nationally, before the house is back on the market and sold. On a $200,000 loan at 12% interest-only, that is about $11,000 of interest — before the lender fee, before the first invoice from the contractor. Carry is now a line item big enough to decide whether a deal works, which is a different world from a 2021 flip that was resold in under four months into a rising market.

Three things follow for how you finance one:

• Price the hold you will actually have, not the one in the pro forma. If the market average is 161 days, underwriting a 90-day flip is a forecast, not a plan. Our loans run a year with no prepayment penalty, so a fast exit costs only the months you used — but the budget should survive the slow one.
• Know the exit before the rehab. With FHA buyers taking better than one in ten flip sales, the finish level and the condition items that fail an FHA appraisal are a financing question, not a taste question. Flip or refinance and hold is worth deciding on paper first.
• Leave room at the top of the stack. A thinner margin is the wrong moment for maximum leverage. The difference between LTV and ARV lending is exactly where that decision gets made.

Florida's distressed supply is the other side of this: resales of foreclosed property are pricing well below the market, which is where the next quarter's spread comes from for operators who can close quickly. See the August Florida single-family numbers for where inventory and days-on-market sit now.

If you have one under contract, tell us about it or call (305) 204-7355.

Figures are ATTOM Data Solutions’ Q2 2026 U.S. Home Flipping Report, released October 1, 2026. Gross profit is purchase-to-resale price and excludes rehab, carrying and selling costs.

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SFR Capital LLC (SFR) is a private lender, license exempt under Fla. Stat. § 494.00115. SFR only makes business purpose mortgage loans on non-owner occupied Florida investment property. Nothing here is an offer or commitment to lend. All loans are subject to SFR approval of the sponsor, property collateral, title and documentation.