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IRVINE, CA— The average gross profit on national home flips completed in Q1 hit a new high of $72,450, but the share of homes sold through flipping as compared to total homes sold last quarter decreased to 4%, according to a new report from RealtyTrac. This share was one of the lowest since the second quarter of 2011, when 3.4% of all single-family homes were completed flips, the firm reports.
The report shows that 17,309 single-family homes were flipped—defined as sold as part of an arms-length sale for the second time within a 12-month period—in the first quarter.
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Carrie Rossenfeld
Carrie Rossenfeld is a reporter for the San Diego and Orange County markets on GlobeSt.com and a contributor to Real Estate Forum. She was a trade-magazine and newsletter editor in New York City before moving to Southern California to become a freelance writer and editor for magazines, books and websites. Rossenfeld has written extensively on topics including commercial real estate, running a medical practice, intellectual-property licensing and giftware. She has edited books about profiting from real estate and has ghostwritten a book about starting a home-based business.
