Home flipping made a big comeback in the years following the housing crash, but that run may be running out of steam. Curbed reports:
Since the housing collapse 10 years ago, home flipping has been a lucrative practice. Investors have been able to buy homes at a relative discount, and steadily rising home prices have created a favorable environment for making short-term investments in buying, renovating, and selling a house.
But with home prices beginning to hit a wall in markets across the country—particularly on the West Coast—home flipping has started to slow down, according to numerous pieces of data from ATTOM Data Solutions, a real estate data tracking company.
The volume of home flips year-over-year were down by 18 percent across the country in August, marking the third time in the last six months home flipping has dropped by double-digit percentages year-over-year. In California, it was down 22 percent in August, the fifth time in the last six months there’s been a double-digit percentage drop in the Golden State.
