RealtyTrac: U.S. Single Family Home Flipping Down To 3.7% In Q1

(RTTNews) - RealtyTrac, an online marketplace for foreclosure properties, Thursday said 3.7 percent of all U.S. single family home sales were flips in the first quarter of 2014, down from 4.1 percent in the fourth quarter of 2013 and 6.5 percent in the first quarter of 2013.

In flips, a home is purchased and subsequently sold again within six months. RealtyTrac released its first-quarter 2014 U.S. Home Flipping Report.

The average sales price of single family homes flipped in the first quarter was $55,574 higher than the average original purchase price.

That gross profit provided flippers with an unadjusted return on investment or ROI of 30 percent of the average original purchase price. The average gross profit per flip a year ago was $51,805 for an unadjusted ROI of 28 percent.