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In a matter of two months it will be on the market and ready for sale. flipping homes helped fuel the real estate bubble and made for tv gold. remember all the shows -- from "flip this house." to "flip that house." >> one, two, three. let's get paid. >> reporter: today around the country there are 25% more homes being flipped than last year. and sellers are walking away with an average profit of $29,000. of the houses that you're selling, how many would you say are houses being flipped? >> between like 25% and 40%. >> reporter: wow. in this new generation of house flippers, many greedy specula...

You can see the house is under construction, just gutted. in a matter of two months it will be on the market and ready for sale. flipping homes helped fuel the real estate bubble and made for tv gold. remember all the shows -- from "flip this house." to "flip that house." >> one, two, three. let's get paid. >> reporter: today around the country there are 25% more homes being flipped than last year. and sellers are walking away with an average profit of $29,000. of the houses that you're selling, how many would you say are houses being flipped? >> between like 25% and 40%. >> reporter: wow. but...

>> shepard: well, there may be a bright spot in sputtering economic recovery. more americans bought previously owned homes last month that be at any time in the last two years. according to the national association of realtors, sales sored nearly 8% to an annual rate of 4.8 million. that's the highest it's been since may of 2010 when tax credits led to a boom in house buying. still the realty group reports the number of first-time home buyers was actually down a bit last month. that, they tell us, could be due to stricter credit standards which make it a whole lot harder for folks to qualify f...

Previously occupied homes jump to a two-year high, up nearly 8 percent, beating expectations. the government reports that builders broke ground on more new homes in august than the previous month. the housing market, still, is very far from healthy. we will turn to gerri, anchor of the willis report. retail prices also rose. this looks like pretty good darned news. >>gerri: price is important and it rose 9.5 percent to $187,400. that is very good news for anyone trying to sell a house out there. a lot of the prices were for distressed property. we waiting for more of those to come online as ba...