Flip Market Flopping
About 6.5 percent of U.S. sales in the fourth quarter were flips, or homes sold within a year from when they last changed hands. That was the highest share in seasonally adjusted data going back to 2002. Such deals were particularly attractive in Western markets such as Northern California and Seattle, but some areas got too hot, and prices are falling. Fourth-quarter losses for flippers who sold within a year were the highest since 2009. In the San Jose area, 45 percent of flips lost money.