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Investors buying fewer homes for flipping

Although the number of flips declined last year, the average gross profit for these projects is up.

January 9, 2015

Fewer investors are buying homes to resell them within a year, according to a third-quarter report from RealtyTrac. About 4% of single-family homes were flipped over the summer, the lowest level since 2009. Flips are down from 5.6% in the third quarter of 2013. While the number of homes being bought to flip is down, the average gross profit per flip is at a record high $75,990.

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