There are few things about my job that I enjoy as much as touring new communities in California. Recently, I was able to spend the better part of a week doing just that.
Rate Of Home Flipping Reaches Highest Point In Past 10 Years
A new report says 193,009 single-family homes and residential condominiums were flipped last year
Photo: David Sawyer/Creative Commons
Low inventory of homes for sale and considerable capital flowing into the real estate market helped push the rate of home flipping to a 10-year high in 2016, according to ATTOM Data Solutions.
The firm’s 2016 Year-End US Home Flipping Report says that 193,009 single-family homes and residential condominiums were flipped last year. That’s a 3.1% increase over 2015, and the highest level of flips since 2006, when 276,067 single-family homes and condos were sold for the second time within a 12-month period.