In their most recent U.S. Home Flipping Report, ATTOM Data Solutions is reporting that 53,638 single family homes & condos were flipped nationwide in Q2 2017, representing 5.6% of all home sales that quarter. That rate is virtually unchanged from one year ago. ATTOM defines a home flip as a property that is sold in an arms-length sale for the second time within a 12-month period. Their data covers over 950 counties and covers over 80% of the U.S. population.
“Many flippers are gravitating toward lower-priced areas where discounted purchases are more readily available — often due to foreclosure or some other type of distress. Many of those lower-priced areas also have strong rental markets, giving flippers a consistent pipeline of demand from buy-and-hold investors looking for turnkey rentals.” Said Daren Blomquist, senior vice president at ATTOM Data Solutions.