Nearly 1 in 20 single-family home sales last year were flips

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Home flippers had another great year in 2013, turning 156,862 properties around in an average of 84 days and walking away with $58,081 in gross profits, according to a year-end report from data aggregator RealtyTrac. Home flips, which were up 114 percent from 2011 to 2012, rose another 16 percent in 2013, accounting for 4.6 percent of all single-family home sales, RealtyTrac said. Source: realtytrac.com.