Home-Flippers Take Breather Even as Mortgage Rates Decline
But there's one group showing less and less interest in buying residential properties: so-called "home flippers" — investors and speculators who rush into real estate deals, buy up properties and fix them up to sell at a (hopefully) quick profit. Loosely defined, home flippers buy and sell a home within a year.
The numbers show a definite slowdown in home flipping. According to RealtyTrac and its Home Flipping Report, only 31,000 U.S. single-family homes were flipped in the second quarter of 2014. That's 4.6% of all U.S. home sales, down from 6.2% in the second quarter of 2013.
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