High-end home flipping up 16 percent in 2013

Posted on Monday, February 3rd, 2014 at 4:46pm.

Home flipping — defined as when a home is purchased and subsequently sold again within six months – was serious business in 2013, according to new data from RealtyTrac. Last year, 156,862 single-family homes were flipped across the country, a year-over-year increase of 16 percent from 2012 and a whopping 114 percent increase from 2011.

Profits on a flip also jumped to an average of $58,051 in gross profit, up from $45,759 in 2012, RealtyTrac data show.

Although home flipping activity was up across all price ranges, home flips on properties worth $400,000 or more saw the greatest increase in activity – 36 percent year-over-year – according to multiple sources.

Leave a Comment