Posted To: MND NewsWire
Even as home prices rise into the stratosphere home flipping remains an active endeavor, accounting for just under 6 percent of all home sale transactions in the third quarter of this year. A flip is defined as any arms-length transaction during the quarter within 12 months of a previous arms-length transaction on the same property. ATTOM says there were 94,766 single-family houses and condominiums flipped during Q3, 1 out of 18 transactions. It was the second quarter in a row that flipping increased after a full year of declines and was a slightly more than a 5 percent increase from both the second quarter of this year and the third quarter of 2020. But ATTOM’s U.S. Home Flipping Report also shows that typical raw profits remained below where they were a year ago and, more importantly, profit…(read more)
