RealtyCheck’s Diana Olick reports that higher costs, shrinking profits and lower demand are causing some home flippers to flee the markets in certain areas. She cites data from ATTOM Data Solutions showing that flipping volume has been falling annually by double-digit percentages for at least three months as well as gross flipping returns falling to their lowest level in nearly seven years. It is also takes much longer to sell a flipped home, now averaging 186 days.
Click here to read the full story at CNBC’s RealtyCheck.
