Where today can you make the best profits when flipping homes?
To answer that, RealtyTrac, which offers a wealth of data in housing and mortgage markets, dug deep into housing sales across the country. Rising home prices continue to support flipping, when properties often resell in as little as three months after some rehabbing and refurbishment.
RealtyTrac examined more than 600 markets across the U.S. that had flip activity in 2012. They defined flips as properties reselling within six months. To be included in the list, the market had to meet the following minimums:
- minimum of 500 flipped transactions
- minimum 9 percent price in local home values from Q1 2012 to Q1 2013
RealtyTrac then narrowed down the list based on the greatest gross profit based on the difference from the resale price compared to the original purchase price.
While they report the top 25 markets on their site (which you can examine here) below are the top-10 markets and related statistics. I have added these markets job growth change in the past 12 months in addition to the RealtyTrac data. Not surprisingly, each and every one of these markets are seeing job growth. Jobs are everything. Period.
To look at the wide range of information available from RealtryTrac, including a free trial, click here.
The bottom line is that jobs are everything, and both the economy and housing market continues to improve.
The glass is finally more than half-full, and improving each month.