Home design reality TV shows may be inspiring more consumers to take on a house flip for themselves. The U.S. home flipping rate reached a nine-year high in the first quarter of this year, ATTOM Data Solutions reports.
In the first quarter, 49,049 homes were flipped, representing 7.2% of all home sales during the quarter—the highest home flipping rate since the first quarter of 2010, the report shows. Researchers define a home flip as a property that was bought and resold within 12 months.
But the profits weren’t as high as they have been in the recent past.