By Gene and
A house or condo is "flipped" if it’s sold for the second time within a 12-month period. Home flips in 2017 accounted for almost 6 percent of all single family home and condos sales during the year, a total of 207,088 properties. This information comes from the recently released 2017 Home Flipping Report by Attom Data Solutions.
"We aren't surprised that the dollar volume and share of financed flips are hitting new highs," said Matt Humphrey co-founder and CEO of Lending Home, which saw a nearly 70 percent increase in its dollar volume of loans on home flips completed in 2017.
"The surge in home flipping in the last three years is built on a more fundamentally sound foundation than the flipping frenzy that we witnessed a little more than a decade ago," said Daren Blomquist, senior vice president at ATTOM Data Solutions."
For more information and where all of this happening, follow the link to U.S. Home Flipping.
Gene and Katie Hamilton are authors of Fix It and Flip It (second edition) published by McGraw-Hill available wherever books are sold.