Real estate investors made an average gross profit of $54,927 on single-family home flips in the third quarter,RealtyTrac reported.
The tracking company’s data indicates investors’ Q3 profit was up 12 percent from an average gross return of $48,893 in the third quarter of 2012. The higher gross profit was driven in part by an increase in high-end flips of homes that were sold for $750,000 or more.
“Increasing home prices over the past 18 months combined with decreasing foreclosures have created a market less favorable to the high quantity of middle- to low-end bread-and-butter flips that we saw late last year and early this year,” See U.S. Home Flipping by Price Range...
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