Alabama remains hot spot for home flipping
Alabama continues to be a hot spot for investors when it comes to single-family and condominium home flips.
According to the recent ATTOM Data Soultions Q1 2017 U.S. Home Flipping Report, investors across the country are shying away more from home flipping ventures, with 43,615 single-family homes or condos being flipped during the first quarter.
Despite that, Alabama ranked No. 3 on the list of states with the highest flip rates at 9 percent. Washington D.C. (10.7 percent) and Nevada (9.8 percent) ranked at the top.
Birmingham was the No. 4 overall metro for flip rate at 10.3 percent with Memphis (15.1 percent), York-Hanover, Pa. (12.5 percent) and Fresno, Calif. (11.1 percent) ranking in the top three.
These flips represented 6.7 percent of single-family and condo sales during the year's first three months, according to the report.
Overall, home flips were down 8 percent from the fourth quarter and down 6 percent from the first quarter of 2016.