Home flipping is down, but still profitable in some cities
The practice of home flipping in the U.S. declining in strict numbers, even as it grows as a share of all home sales, according to a new report on the subject by ATTOM Data Solutions. The report looked at home flips across the country in Q1 and found that 49,059 homes changed hands by way of flipping during the quarter. That’s a slight drop of 2 percent from the last quarter of 2018, and it’s a substantial 8 percent dip from the number of flips a year earlier, in Q1 2018. ATTOM chief product officer Todd Teta said in a press release that home flippers may be pulling back due to fear of a worsening real estate market on the horizon. “With interest rates dropping and home price increases starting to ease, investors may be getting out while the getting is good, before the market softens further,” Teta said.
But flipping didn’t drop everywhere in Q1. The report draws data from 138 metropolitan areas around the country, and shows that of those, 62 percent saw more home flipping than a year earlier. Atlanta was one of only a handful of metros with over a million people where more homes were flipped
McDevitt Real Estate Closing Attorney Services - Real Estate Law Massachusetts
Have a question about Real Estate Law or need a closing attorney? Fill out the form below or call us at 617-282-7550.
We are conveniently located in Hingham and Milton, Massachusetts.
McDevitt Law Group strives to provide the highest quality real estate law and estate planning services, and we have for almost 40 years. As a small law firm, we pride ourselves on providing personal attention to your case and providing the highest quality representation. Call us today, or use the contact form below.
Barnstable County | Bristol County | Duke County | Essex County | Middlesex County | Nantucket County | Norfolk County | Plymouth County | Suffolk County
Just click on the Phone Number to dial on your phone: