In 2nd-QTR, home flipping rate plateaus as average flipping returns decline for third consecutive quarter.
Builder
ATTOM Data Solutions reported Thursday that 53,638 single family homes and condos were flipped nationwide in the second quarter of 2017, a home flipping rate of 5.6% of all home sales during the quarter. The home flipping rate of 5.6% in Q2 2017 was down from 6.9% in the previous quarter but unchanged from a year ago.
For the report, a home flip is defined as a property that is sold in an arms-length sale for the second time within a 12-month period.
The report also showed an average gross flipping profit of $67,516 for homes flipped in the second quarter, representing a 48.4% return on investment (ROI) for flippers — down from 49.0% in the previous quarter and down from 49.6% in Q2 2016 to the lowest level since Q3 2015.
