According to the latest U.S. Home Flipping Report form ATTOM Data Solutions, over 43k single family homes & condos were flipped nationwide in the first quarter of 2017, down 8% from the previous quarter and down 6% from one year ago, to the lowest number of homes flipped since Q1 2015 — a two-year low. However, when it comes to financing said flipping, an estimated $3.5 billion was spent – the highest level since Q4 2007 and a 9-year high. In addition, home flips in the first quarter were 6.7% of all single family home & condo sales, up from 5.8% in the end of 2016 and unchanged from one year ago.
“The business of financing for home flippers continued to grow in the first quarter of 2017 even as the home flipping rate plateaued compared to a year ago and average home flipping returns decreased for the second consecutive quarter,” said Daren Blomquist, senior vice president at ATTOM Data Solutions.
Click here to read the full report on RealtyTrac.com.
