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All numbers point to a continued decline in foreclosure stock last year, but that didn't stop home flippers from stepping up their activity. According to numbers released by RealtyTrac, home flips totaled nearly 157,000 in 2013, up 16% from 2012 and 114% from 2011.
Investors also took in more money per flip compared to 2012, thanks to continued advances in home prices. The average gross profit for a home flipped last year was just over $58,000 dollars, up nearly 13 thousand from the previous year's average.
The National Association of Realtors' Pending Home Sales Index fell nearly 9% in December, with declines reported in all four of the country's major regions. As of the end of the year, the index measured 92.4, its weakest reading since October 2011. The NAR's chief economist, Lawrence Yun, pointed to unusually disruptive weather and sluggish income growth as two factors in last month's decline. Yun also blamed ongoing inventory constraints, particularly in the West.
