A house or condo is “flipped” if it’s sold for the second time within a 12-month period. Home flips in 2016 accounted for almost 7 percent of all single family home and condos sales during the year, up from 5.5 percent in 2015. This information comes from the recently released 2016 Home Flipping Report by Attom Data Solutions, which shows that 193,009 single family homes and condos were flipped.
Home flipping was hot in 2016, fueled by low inventory of homes in sellable or rentable condition along with a flood of capital both foreign and domestic, searching for the returns and stability available with U.S. real estate, said Daren Blomquist, senior vice president at ATTOM Data Solutions.
Investors in search of flipping returns are increasingly willing to move to secondary and tertiary housing markets and neighborhoods with older, smaller properties that are available at a deeper discount,” Blomquist continued. “Given that many of these markets are more affordable, we are also seeing a higher share of the flipped homes sold to FHA buyers, with that share reaching a four-year high of 19.6 percent in 2016.”
Where is all of this happening? Follow this link: https://public.tableau.com/profile/darenjblomquist#!/vizhome/HottestHomeFlippingZipsin2016/Dashboard1