The Real Deal New York

Home flips are back with a vengeance

Investors in 2017 flipped more than 207K condos and houses
March 08, 2018 10:45AM

Homes in Boulder, CO

Flipping houses was more popular in the U.S. last year than at any point since the now infamous real estate bubble of the 2000s.

A report from Attom Data Solutions found that investors flipped more than 207,000 condominiums and single-family homes in 2017, the most since 2006, according to Bloomberg. More than 138,000 investors flipped homes last year, which was the most since 2007.

This decade’s home flippers seem to be more cautious than their counterparts from 2006, with the average 2017 flip generating 50 percent gross returns as opposed to 28 percent in 2006.

However, there are still some red flags in local markets, with flippers in Boulder, Austin and Santa Barbara all earning less than 25 percent on gross returns. [Bloomberg]Eddie Small