12 Nov Home Flipping Report: Fewer Homes, Lower Returns
Home Flipping Report: Fewer Homes, Lower Returns. Is the flipping party coming to a close? A report on home flipping that suggests the number of properties being bought and sold again within a 12-month period is in steady decline. Payoff per flip also is down. RealtyTrac said there were 31,000 single family homes flipped in the most recent reporting quarter.
RealtyTrac said investors average a gross profit of $46,000 per flip in the quarter, 21 percent gross return on the initial investment, down from 24 percent the previous quarter and 31 percent a year ago.
“Home flipping is settling back into a more historically normal patter after a flurry of flipping during the recent run-up in homes prices in 2012 and 2013,” said Daren Blomquist, vice present of RealtyTrac.
To read full article in Real Estate Digest click on the link below.