Loans for home flipping hit 9-year high

June 09, 2017 06:21PM

Did anyone say bubble? Eight years ago, many bankers would have been worried about the prospect of home-flipping loans approaching the volume that they reached before the 2008 crash. And…that’s what’s happened. They’re currently at a nine-year high, according to Attom Data Solutions, a multi-sourced property database. And although the actual number of homes flipped were down from the previous quarter and the same time last year, 2017’s first quarter loans were up by almost a billion dollars from the previous year. “Home flippers financed an estimated $3.5 billion in purchases for homes flipped during the quarter, up from $3.3 billion in the previous quarter and up from $2.4 billion a year ago to the highest level since the fourth quarter of 2007 — a more than nine-year high,” Attom’s Daren Blomquist said. [housingwire.com]