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52 | Th e M Rep o RT o r i g i nat i o n s e r v i c i n g a na ly t i c s s e c o n da r y M a r k e t ANALYTICS Department the latest local eDition return on investment (ROI) and average gross profit on flipped homes, California still ranked fourth among the 50 states and the District of Columbia in flipped homes as a percentage of total sales in Q2, according to RealtyTrac. The Golden State saw 5,361 homes flipped in Q2, the most total flips in Q2 by any state or District of Columbia (Florida was second at 4,677 and Arizona was a distant third with 1,754), RealtyTrac reported. California's total accounted for 6.8 percent of all home sales in the state in Q2, which ranked it fourth behind only District of Columbia (10.2 percent), Nevada (8.1 percent), and Rhode Island (7.3 percent), according to RealtyTrac. Even though California's total of flipped homes as a percent- age of total sales declined by 25 percent quarter-over-quarter and 18 percent year-over-year, it was still good for fourth in the na- tion, according to RealtyTrac. California's flipping average gross profit for Q2 of $83,383 was a dropoff from $110,784 it saw for the same quarter in 2013, but the total ranked California eighth in the nation in that category, behind D.C., Virginia, Maryland, New Jersey, Washington, Illinois, and Minnesota, RealtyTrac reported. The big decline came for California in average gross ROI for Q2, according to RealtyTrac. The Golden State reported only 23 percent in that category, rank- ing it in the middle of the pack at 24th. In Q2 2013, California reported a 38 percent gross ROI, which ranked it at 16th. In total home flips for Q2 2014, California placed two metropolitan statistical areas in the top five in the nation. Los Angeles-Long Beach-Santa Ana came in second (behind Phoenix) with 1,371 flips, and Riverside-San Bernardino- Ontario came in fourth with 980 flips, according to RealtyTrac. Los Angeles ranked 10th and Riverside tied for 11th among the nation's MSAs in flipped homes as a percentage of total sales with 7.5 percent and 7.4 percent, respectively. Freddie Mac's Portfolio resumes decline The porTfolio declines again afTer a slighT increase The previous monTh. VIRGINIA // Freddie Mac's mort- gage portfolio declined at an an- nualized rate of 0.4 percent over the month of August, according to the GSE's latest monthly volume summary. Year-to-date, the portfolio's annualized growth rate has averaged -1.6 percent, bolstered by declines near or higher than 2 percent in each of the first five months of the year. Mortgage-related securities and other guarantee commitments at the GSE increased at an an- nualized rate of 4.1 percent in August, marking the highest rate of growth this calendar year and any time in the past 12 months. At $9.8 billion, single-family refinance purchases made up 41 percent of Freddie Mac's total single-family purchases and issuances in August based on unpaid principal balance, while relief refinances made up 18 percent. Freddie Mac conducted $2.3 billion in new multifamily busi- ness in August, bringing the year-to-date total to $11.3 billion. Both single-family and mul- tifamily serious delinquencies decreased at Freddie Mac in August. Single-family serious delinquencies fell to 1.98 percent, from 2.02 percent in August. Serious delinquencies in Freddie Mac's multifamily portfolio decreased from 0.05 percent to 0.04 percent. Freddie Mac also revealed that its exposure to changes in portfolio market value was about $23 million over the month of August. Freddie Mac completed 5,374 mortgage loan modifications in August, bringing the year-to-date total to 47,356. ANALYTICS