In their most recent U.S. Home Flipping Report, ATTOM Data Solutions is reporting that the number of single-family homes and condos flipped in the third quarter of 2018 was down 12% from one year ago, representing its lowest level since Q1 2015. There were 45,901 homes flipped in Q3 2018 representing 5% of all single family home & condo sales during the quarter. In addition they report that the share of flipped homes sold to FHA Buyers was at its lowest level in over 10 years.
“We’ve now seen three consecutive quarters with year-over-year decreases in home flips. The last time that happened was in 2014 following the mortgage rate jump in the second half of 2013, but it’s still far from the 11 consecutive quarters with year-over-year decreases in home flips extending from Q2 2006 through Q4 2008 and leading up to the last housing crash.” Said Daren Blomquist, senior vice president at ATTOM Data Solutions.