Fewer homes were flipped in 2018, but investors are still on the hunt and have not shied away from quick resales, according to a new report from ATTOM Data Solutions, a real estate data firm.
Home Flip Characteristics for 2018
Average time: Homes flipped in 2018 took an average of 180 days to complete, down from 181 days in 2017.
Square footage: The average square footage of homes flipped in the fourth quarter was 1,408, the smallest average square footage on record for CoreLogic’s report, dating back to the first quarter of 2005.
Single-family homes and condos that were flipped fell 4 percent in 2018, reaching 207,957 homes, according to ATTOM’s 2018 U.S. Home Flipping Report, released this week. Home flips comprised 5.6 percent of all single-family home and condo sales last year, the same as the year before. ATTOM Data Solutions defines a home flip as an arms-length…