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9. March, 2018|MortgageOrb|No comments

A total of 207,088 U.S. single-family homes and condos were flipped in 2017, up 1% from 204,167 in 2016 to reach the highest level since 2006, according to ATTOM Data Solutions’ fourth quarter and year-end U.S. Home Flipping Report.

But the total dollar value of financed flips was even higher compared with the previous year: Flips that were financed in 2017 totaled about $16.1 billion, up 27% compared with $12.7 billion in 2016 to reach the highest level since 2007.

Flips represented 5.9% of all single-family home and condo sales during the year, up from 5.7% of all sales in 2016. It was the highest percentage of total sales since 2013.

The total number of entities (individuals and institutions) that flipped homes also increased – up 4% from 2016 to reach the highest level since 2007.

Flipped homes originally purchased by the investor with financing represented 34.8% of homes flipped in 2017, up from 31.6% in 2016 to reach the highest level since 2008 – a nine-year high.

β€œThe surge in home flipping in the last three years is built on a more fundamentally sound foundation than the flipping frenzy that we witnessed a little more than a decade ago,” says Daren …read more