BIG DATA SANDBOX
States Where Flipping is King
Move over cash sales, flipping a home is the new king. Home flipping may have calmed down a bit from its height in 2005, where 8.2 percent of sales were flips but according to new data released from ATTOM Data Solutions, 2016 saw an uptick in home flips: 5.7 percent of all home sales were flips, up 3 percent from last year to a 10-year high. Now what states are producing the biggest gross profit? ATTOM Data crunched the numbers and found the Top 8 states where flipping can really boost your income.
ATTOM Data Solutions analyzed sales deed data for this report. A single family home or condo flip was any transaction that occurred in the year where a previous sale on the same property had occurred within the last 12 months. Gross flipping profit was calculated by subtracting the price for the first sale (purchase) from the price of the second sale (flip). Gross flipping return on investment was calculated by dividing the gross flipping profit by the first sale (purchase) price.
ATTOM Data Solutions • P12
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