Saturday, August 8, 2015

RealtyTrac Reports Flipped Homes Fall to 4.5 Percent of all Single Family Sales in Second Quarter


IRVINE, CA — RealtyTrac® (www.realtytrac.com), the nation’s leading source for comprehensive housing data, released its Q2 2015 U.S. Home Flipping Report, which shows that 30,013 single family homes were flipped — sold as part of an arms-length sale for the second time within a 12-month period — in the second quarter, 4.5 percent of all single family home sales during the quarter.

Highlights of the report:

·              Home flipping as a share of sales declined to 4.5 percent of all sales in Q2, but the average flipping returns (gross ROI) increased to 35.9 percent ($70,696 gross profit).

·              Fewer foreclosure deals are available to flippers, with former foreclosures representing just 41 percent of all homes flipped in Q2, a 7.5-year low.


·              Flippers are taking longer to rehab, list and sell their product, with Q2 completed flips taking an average of nearly six months (179 days), an eight-year high.

·              There were 211 zip codes where flips sold for $1 million dollars or more on average

·              Most profitable zip codes for flipping were in Jacksonville, Florida, Dayton, Ohio, Baltimore, St. Louis, and Memphis.

  For a complete copy of the company’s news release, please contact:    
                 
Jennifer von Pohlmann
949.502.8300, ext. 139

Ginny Walker
949.502.8300, ext. 268


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