Flipping Declines in Q3 But Profits Reach 20-Year High

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According to the latest home flipping report from ATTOM Data, gross returns for home flippers soared to their highest level in 20 years. The report said there were just over 57k single-family homes and condominiums flipped in Q3 2020.  As CNBC’s Diana Olick reports, ATTOM attributes the gains to the effects of the worldwide coronavirus pandemic.  She also points out that Investors have sold for at least double their purchase price in 14 U.S. markets.  Indeed…

“This all happened in the context of the pandemic, which has created unusual circumstances for the housing market to thrive, and that has included the home-flipping business,” said Todd Teta, chief product officer at ATTOM Data Solutions.

Click here to watch the report on CNBC.

Click here to read ATTOM’s full report.

 

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Brad Beckett

Director of Education & Outreach, National Real Estate Investors Association

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