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House flipping is back, and has some people nervous

(CNBC) — Flipping is back.

The trend of buying a fixer-upper, making some repairs and “flipping” to a new buyer quickly is making a return to real estate markets, years after the trend fell out of fashion with home buyers.

More than 6 percent of home sales last year were “flips”, according to a new report from Trulia. The real estate data website defines a flip as the selling of a home at least twice within a year.

That’s the highest number in a decade, before the real estate bubble burst and the financial crisis of 2008. So could the housing market flip out again?