Flipping Out

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Here are some interesting facts from Attom Data’s report on House Flipping.

  • Last year there were just under 309,000 flips of homes or condominiums which represents 8% of all transactions across the U.S.
  • 37% of those were financed transactions and 63% were all cash
  • The average gross profit for a house flip is $63,000

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Equity Snapshot

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CoreLogic just released their quarterly Home Equity Insights Report.

 

Their analysis shows U.S. homeowners with mortgages (roughly 63% of all properties) have seen their equity increase by a total of over $3.2 trillion since the third quarter of 2020, an increase of 31.1% year over year.

 

In the third quarter of 2021, the total number of mortgaged residential properties with negative equity decreased by 5.7% from the second quarter of 2021 to 1.2 million homes, or 2.1% of all mortgaged properties.

 

Negative equity means a home is worth less than the amount owed on the property.

In Colorado, the percentage of homes with negative equity is even lower than the National average at 1.5%.

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