Top 9 cities for flipping houses | Pound Ridge NY Real Estate

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Investors gobbled up 156,862 single family homes and flipped them in 2013, up 16% from 2012 and up 114% from 2011, according to RealtyTrac.

Homes flipped in 2013 accounted for 4.6% of all U.S. single family home sales during the year, up from 4.2% in 2012 and up from 2.6% in 2011. In short, the market is hot for house flippers, but in some areas more than others.

Flips accounted for 3.8% of all sales in the fourth quarter, down slightly from 3.9% of all sales in the third quarter and down from 7.1% of all sales in the fourth quarter of 2012 — the highest percentage of sales represented by flips in a single quarter since RealtyTrac began tracking flipping data in the first quarter of 2011.

The average gross profit for a home flip was $58,081 for all U.S. homes flipped in 2013, up from an average gross profit of $45,759 in 2012. The average gross profit for homes flipped in the fourth quarter was $62,761, up from $52,746 in the fourth quarter of 2012.


http://www.housingwire.com/articles/28840-top-9-cities-for-flipping-houses



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