House Flipping Rises To Highest Level In Six Years

Most houses are purchased with cash by flippers, which indicates that more financing is available for home transactions

By Peter Fabris, Contributing Editor | September 22, 2016
House Flipping Rises To Highest Level In Six Years
House Flipping Rises To Highest Level In Six Years

A total of 51,434 U.S. single-family home and condo sales were completed flips in the second quarter of 2016. This is a 14% increase from the previous quarter, and a 3% rise from a year ago. This represents the highest number of home flips since the second quarter of 2010. This data comes from ATTOM Data Solution’s RealtyTrac Q2 2016 U.S. Home Flipping Report. Of the homes flipped in the second quarter, 68.3% were purchased with cash by the flipper, the lowest level since Q3 2008 — a nearly eight-year low. This indicates that more financing is available for home transactions.

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