Home Flippers Pulled Out of U.S. Housing Market as Prices Surged
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Home-flippers watched regular buyers parade through open houses and headed for the sidelines, as scarce inventory and rising prices pushed investors out of the housing market.
Flips accounted for 2.7% of U.S. home sales in the first quarter. That was the lowest rate since at least 2000, according to data from Attom. It typically takes about six months to buy, fix and sell a home, so the low rate indicates that flippers accounted for fewer purchases than usual in the second half of 2020.