Flips Down in Third Quarter 2015, Up Year-Over-Year

Realtytrac has reported that home flipping in the third quarter of 2015 represented 5 percent of total single family and condo sales, down from 5.4 percent in the second quarter of 2015.

The 5 percent of total homes flipped last quarter is actually up though, when compared year-over-year with the third quarter of 2014, which had just 4.3 percent houses flipped out of total sales.

Realtytrac defines flipped homes as those sold as part of an arms-length sale for the second time within a 12-month period.