Home Flips Reach 10-Year High

““Home flipping was hot in 2016,” Blomquist says.

IRVINE, CA—Home flipping, including arms-length transfers in the for-sale apartment realm, hit a 10-year high in the year just past, ATTOM Data Solutions said Thursday. The firm’s 2016 Year-End US Home Flipping Report shows that 193,009 single-family homes and residential condominiums were flipped in ’16. That’s up 3.1% from 2015 and represents the highest level since 2006, when 276,067 single-family homes and condos were sold for the second time within a 12-month period.

Flips represented 5.7% of all single-family home and condos sales during the past year. The percentage gain marks a slight increase from the year prior, when 5.5% of all transactions were flips, but is still below the peak established in 2005, when 338,207 single family homes and condos were flipped, representing 8.2% of all sales nationwide.