In the first part of a new report on flipping from CoreLogic, they show that in the 1st quarter if 2016 home flips represented 4.4% of all home sales – which is well below the peak of 6.4% in 2005. Additionally, they note that while the number of flips has dropped 70% since 2005 the number of homes sold in 2016 is drastically lower than in the 2nd quarter of 2005. CoreLogic used more than 100 million residential property public records to show the markets in which the level of flipping activity is high and the markets in which it is low.
“…it takes longer to flip a property now than before the housing crisis…”
“…prior to the housing bubble burst, the peak average time to flip a property was 150 days in Q2 2006. Now in Q1 2016 it takes 154 days on average to flip a property and it appears to be still trending up.”
