Home Flipping 5.6% of all Sales in Q2

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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.

 

 

Click here to read the full report at attomdata.com.

 

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Director of Education & Outreach, National Real Estate Investors Association

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