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Report: Fewer California Homes Being Flipped

  •  Steve Milne 
Friday, February 27, 2015 | Sacramento, CA
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A new study finds the practice known as house-flipping is down in California.

“Flipping” is what the real estate industry calls it when you buy a home and then sell it again with a 12-month period.

“Indicating someone who’s buying the property, presumably fixing it up and then selling it for a profit," says Daren Blomquist with RealtyTrac.

The research firm’s latest data show about 5,500 California properties were flipped during the fourth quarter of last year. Blomquist says that was a little more than 7.5 percent of all single-family home sales.

“But that percentage was down 21 percent from a year ago, that share of flips," says Blomquist. "So it is coming down fairly dramatically.”

The data show that on average, flippers saw a $96,000 profit – or the difference between the purchase price and the flipped price.

Blomquist says as home price appreciation slows to single digits, flippers are being more selective about the properties they buy.


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Steve Milne

Morning Edition Anchor & Reporter

Steve is the Morning Edition anchor for Capital Public Radio. He covers stories on a wide range of topics including: business, education, real estate, agriculture and music.  Read Full Bio 

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