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Surging Home Prices Drive Flippers Out of Market

Amid low supply and high prices in the housing market, home flippers have been sitting on their hands to the greatest extent in more than 20 years. So reports Bloomberg.

dollar 5242033 640 100x100According to Attom data, 2.7% of U.S. home sales in the first quarter were flips, the lowest share since 2000 or earlier.

Given that buying, fixing and selling a home is generally about a six-month process, the low reading means that fewer home purchases in the latter half of 2020 were by flippers.

Read the full article from Bloomberg.

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