Residential speculators flipped more homes in the first six months of 2013, according to RealtyTrac.
Investors flipped 212 homes between January and June, up 16 percent from the same period last year. The average purchase price was $217,885 and the average profit on a flip, defined as a sale coming six months or less after a previous sale, was nearly $31,000, the real estate tracking firm said.
Nationally, home flipping was up 19 percent and 74 percent from the first half of 2012 and 2011, respectively. The average profit was just under $18,000.
Despite the boost in Connecticut speculation, the state ranks towards the bottom in the numbers of home flips. Only 12 states posted lower single-family flips, including Maine, Rhode Island and Vermont.
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