Report Suggests It's A Great Time To Flip Houses

House flipping jumped last year, averaging a 16% increase from 2012, and a significant 114% jump from 2011 according to RealtyTrac’s year-end 2013 Home Flipping Report. Last year 156,862 homes were purchased, flipped and sold within a six month time frame. Data shows that the average house flipping gross profit in 2013 was approximately $58,081, almost a $13,000 gain from 2012. Daren Blomquist, vice president of RealtyTrac said, “strong home price appreciation in many markets boosted profits for flippers in 2013 despite a shrinking inventory of lower-priced foreclosure homes to purchase. For the year, 21% of all properties flipped were purchased out of foreclosure, but that is down from 27% in 2012 and 32% in 2011.” More here

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