San Francisco saw a drop in the number of homes that were flipped last year, indicating there may be a decrease in competition among The City’s real estate market, according to a report released Thursday by Trulia, a national online real estate tool. The rate of house flipping — in which a buyer sells a home within a year of purchasing the property — fell in San Francisco to 3.3 percent in 2015, compared to 3.6 percent in 2014, the report shows. Though the change might seem small, the downturn aligns with a larger cooling trend in the market, said Trulia’s chief economist and author of the report Ralph McLaughlin. “That’s good news,” McLaughlin said. “It might mean that in the future, there’s less speculation in the Bay Area.”
from Real Estate Insider by Leon De-Levi, Pacific Union International http://ift.tt/23IFUh8
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