An uptick in home flipping activity could indicate that conditions in the housing market are worsening.
Home-flipping has rebounded by one key measure. But that’s doesn’t make it an easy path toward becoming rich.
But that’s not necessarily a positive indicator of the housing market’s strength, said Todd Teta, Attom’s chief product officer. The number of homes that were flipped was actually down 8% from the previous year to a three-year low. And the number of investors engaging in home flipping has dropped 11% over the past year.
Researchers previously described home-flipping activity as a “canary in the coal mine” that could presage a cooling housing market. Despite the seemingly turning tides in the home-flipping market, one bright spot is the renewed interest that so-called ‘iBuyers,” tech firms that use algorithms to make instant home offers, have taken in the businesses. Zillow Z, -1.27% in particular, has said it is investing more money into its home-buying and flipping operation, Zillow Offers, which launched last year. Analysts and stock investors have thus far been receptive of the strategy.
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