What Could Go Wrong? Home Flipping Up 20 Per Cent Says RealtyTrac
Home flipping is on the rise according to a new report. A total of 43,740 single-family homes and condos were bought and flipped in the first three months of 2016 according to RealtyTrac.
That total represents 6.6 per cent of purchases, a 20 per cent increase from the last quarter of 2015 and a 3 per cent rise from the first quarter of 2015. It’s also the highest rate of flips since the start of 2014.
“After faltering in late 2014, home flipping has been gaining steam for the last year and a half thanks to falling interest rates and a dearth of housing inventory for flippers to compete against,” said Daren Blomquist, senior vice president at RealtyTrac.
On a positive note, Blomquist says that most buyers are flipping responsibly and the overall levels are not far above the historic norm.
Because this time, it’s different…