Flipping homes becoming more popular - KWWL - Eastern Iowa Breaking News, Weather, Closings

Flipping homes becoming more popular

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(KWWL) -

Flipping homes is becoming more popular than ever before. According to Reality Trac, nearly seven percent of homes sold in the first quarter of this year were flips. Flipping homes consists of buying a run down house at a reduced price, and fixing it up with the intent of selling it at a higher price within a 12 month period. This quarter saw a 20 percent jump from last quarter and it has been a three percent raise form the same time last year. The increase in flipped homes comes from the decreasing interest rates on homes, as well as the lack of inventory for flippers to compete against. 

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