We recently posted about how mortgage delinquency rates were the lowest in 20 years and that potentially means fewer foreclosures for home flippers. However, in a recent special report about flipping, CoreLogic says that flipping rates are actually near historic highs, but flippers are “playing a different game.” To come up with this theory, CoreLogic took a deep-dive into home flipping by investigating flipping rates nationally and across the country’s metro areas. They also estimated the gross economic returns to home flipping and tested to see what factor is most correlated with such returns.
“…we also find that flipping rates vary sharply across the country, tending to be highest in sunbelt metros and lowest in rustbelt metros, although the dichotomy doesn’t fit perfectly. For example, eight of the top ten metros with the highest flipping rate in the fourth quarter of 2018 were in the Sunbelt…”