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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