Home Flipping Highest in Two Years

RealtyTrac’s recently released Q1 2016 U.S. Home Flipping Reportshows that 6.6 percent of single-family and condo sales in the first quarter of the year (43, 740 homes) were classified as flips.

This is a 20 percent increase from fourth quarter 2015, a 3-percent hike over last year and two-year high (since first quarter in 2014). The number of flips was still 26 percent below the all-time high of flips seen in first quarter 2006 (9 percent).

RealtyTrac defines a flip as any property sold at arms-length for the second time in a 12-month period. RealtyTrac studied recorded deeds in 950-plus counties (80 percent of the population).