Exclusive | House flippers are cashing in big in one Upstate NY metro while Texas gets burned

Home flippers across America are watching their profits shrink, with the typical flip bringing in just $60,526 before expenses in the second quarter of 2026 — down from $71,000 a year earlier, according to a new report from real estate data firm ATTOM.That’s a return of 21.5% on what investors paid for the property, down from 27.6% a year ago.And that’s before paying for renovations, closing costs and other expenses — meaning the actual payday could be a whole lot smaller.“Flippers are still making money in most markets, but the typical return continues to narrow,” ATTOM CEO Rob Barber said in the report.“The second-quarter numbers continue the general downward trend in profit margins and gross profits we have seen over the past two years.”It’s a far cry from the days when soaring home prices made flipping houses look like an easy way to get rich.Now, with homes already expensive and buyers watching their budgets, investors have less room to make a quick buck.And fewer people are getting in on the action.Some 77,991 homes were flipped nationwide during the second quarter, making up 6.2% of all home sales, down from 7.3% a year earlier.That’s roughly one in every 16 homes sold.But while some investors are struggling to turn a profit, others are still laughing all the way to the bank.In Buffalo, New York, house flippers are hitting the jackpot.The upstate city delivered a whopping 76.6% return on the typical flip, the second-highest among major metropolitan areas with populations exceeding 1 million.Buffalo’s relatively affordable homes and competitive housing market offer some clues to its strong showing.According to Redfin, the city’s median home sale price stood at approximately $233,000 in September, about 42% below the national average, while nearly 60% of homes sold above their asking price.The uptick is credited to career professionals and remote workers increasingly moving to Buffalo in the last few years.

The regional economy has dive...