 |
| Daren Blomquist |
IRVINE, CA, May 1, 2014 — RealtyTrac® (www.realtytrac.com), the nation’s leading source
for comprehensive housing data, today released its Q1 2014 U.S. Home Flipping
Report, which shows 3.7 percent of all U.S. single family home sales were flips
— where a home is purchased and subsequently sold again within six months — in
the first quarter of 2014, down from 4.1 percent in the fourth quarter of 2013
and down from 6.5 percent in the first quarter of 2013.
The average sales price of single family homes flipped in
the first quarter was $55,574 higher than the average original purchase price.
That gross profit provided flippers with an unadjusted ROI (return on
investment) of 30 percent of the average original purchase price. The average
gross profit per flip a year ago was $51,805 for an unadjusted ROI of 28
percent.
“Slowing home price appreciation early this year in many
of the most popular flipping markets put some investors in danger of flying too
close to the sun,” said Daren Blomquist, vice president at RealtyTrac.
“But investors appear to have recalibrated their flipping
strategy, accounting for the slower home price appreciation even if that means
fewer flips.
" This is another good sign that this housing recovery is behaving
much more rationally than the last housing boom, which was built largely on
unfounded speculation rather than fact-based calculations.”
For a complete copy of the company’s news release, please contact:
Jennifer von Pohlmann
949.502.8300949.502.8300, ext. 139
No comments:
Post a Comment