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| Daren Blomquist |
IRVINE, CA — ATTOM Data
Solutions, curator of the nation’s largest multi-sourced property database, released its Q1 2017 U.S. Home Flipping Report, which shows that 43,615
single family homes and condos were flipped — sold in an arms-length transfer
for the second time within a 12-month period — nationwide in the first quarter
of 2017, down 8 percent from the previous quarter and down 6 percent from a
year ago to the lowest number of homes flipped since Q1 2015 — a two-year low.
Home flips in Q1 2017
accounted for 6.7 percent of all single family home and condo sales during the
quarter, up from 5.8 percent in the previous quarter and unchanged from a year
ago.
“The business of financing
for home flippers continued to grow in the first quarter of 2017 even as the
home flipping rate plateaued compared to a year ago and average home flipping
returns decreased for the second consecutive quarter,” said Daren Blomquist, senior vice president
at ATTOM Data Solutions.
“Home flippers financed an
estimated $3.5 billion in purchases for homes flipped during the quarter, up
from $3.3 billion in the previous quarter and up from $2.4 billion a year ago
to the highest level since the fourth quarter of 2007 — a more than nine-year
high.”
For a complete copy of the company’s news release,
please contact:
Jennifer von Pohlmann
Office: 949-502-8300 ext
139
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