Flip or flop? Profits are down, according to a new report
The third-quarter 2019 U.S. Home Flipping Report, released by property database curator ATTOM Data Solutions, shows that 56,566 U.S. single family homes and condos were flipped in the third quarter, down 12.9 percent from the previous quarter and down 6.8 percent year over year.
Those figures represent the largest quarterly and annual drops since the third quarter of 2014. Speculators are clearly taking a break, as the number of U.S. homes flipped in the third quarter represented only 5.4 percent of all home sales during the quarter, down from 6 percent of all home sales in the second quarter, but up slightly from 5.2 percent a year ago.