Newspaper article The Record (Bergen County, NJ)

1 in 25 Homes Flipped in N.J

Newspaper article The Record (Bergen County, NJ)

1 in 25 Homes Flipped in N.J

Article excerpt

One in 25 home sales in New Jersey last year were investors' flips -- in which properties are bought, renovated and quickly resold -- according to a company that tracks real estate deals.

Nationally, about one in 20 home sales were flips, according to RealtyTrac, a California-based real estate information company. A total of about 180,000 homes were flipped in 2015 nationwide, including about 3,800 in the Garden State.

Home-flipping activity rose slightly in 2015, but remains well below the levels seen during the housing boom about a decade ago, said RealtyTrac, which counts sales as flips if a home is sold twice within a 12-month period.

Last year, about 5.5 percent of sales were flips, up from 5.3 percent the previous year, but significantly below the peak of 8. …

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