Home Flipping in Decline

Irvine, CA, Aug. 22, 2014 -- Fewer investors are flipping homes, according to a report by tracking firm RealtyTrac.

In the second quarter, the firm said, nearly 31,000 single-family houses were flipped, representing 4.6% of home sales,

That’s down from 6.2% a year ago and the smallest rate since the first quarter of 2012.

The average gross profit per home turnaround was 21% of the return on the original investment, down from 31% a year earlier,