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| Daren Blomquist |
IRVINE, CA — ATTOM Data
Solutions, curator of the nation’s premier property
database, today released its Q3 2018 U.S. Home Flipping Report, which
shows that a total of 45,901 U.S. single family homes and condos were flipped
in the third quarter of 2018, down 12 percent from a year ago to the lowest
level since Q1 2015 — a 3.5-year low.
Homes flipped in Q3 2018 represented 5.0 percent of all single
family home and condo sales during the quarter — down from a 5.2 percent home
flipping rate in Q2 2018 and down from a 5.1 percent home flipping rate in Q3
2017 to the lowest level since Q3 2016.
“Home flipping acts as a canary in the coal mine for a cooling housing market because the high velocity of transactions provides home flippers with some of the best and most real-time data on how the market is trending,” said Daren Blomquist, senior vice president at ATTOM Data Solutions.
“We’ve now seen three consecutive quarters with year-over-year decreases in home flips. The last time that happened was in 2014 following the mortgage rate jump in the second half of 2013, but it’s still far from the 11 consecutive quarters with year-over-year decreases in home flips extending from Q2 2006 through Q4 2008 and leading up to the last housing crash.”
CONTACTS:
Christine Stricker
949.748.8428
Data and Report Licensing:
949.502.8313
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