Although the number of flips declined last year, the average gross profit for these projects is up.
Fewer investors are buying homes to resell them within a year, according to a third-quarter report from RealtyTrac. About 4% of single-family homes were flipped over the summer, the lowest level since 2009. Flips are down from 5.6% in the third quarter of 2013. While the number of homes being bought to flip is down, the average gross profit per flip is at a record high $75,990.