RealtyTrac: House flipping still lucrative in some areas (source: ScottsmanGuide.com)

Fri Aug 29, 2014 12:10 PDT

RealtyTrac: House flipping still lucrative in some areas

york pa house flipping

If you’re in the business of flipping houses, head to Pennsylvania.

A diminishing U.S. foreclosure inventory and steadily rising home-price gains have reduced the appeal of flipping houses in most areas, but a new RealtyTrac report has found some cities where the practice is still profitable.

Two weeks ago, RealtyTrac reported that the volume of sales of flipped homes fell this past second quarter to 5.9 percent of all home sales; flipped homes made up 6.2 percent of all sales in second-quarter 2013.

RealtyTrac recently produced a list of the top 10 markets for flipping profitability. Pittsburgh tops the list, followed by New Orleans, Baltimore, Virginia Beach, Virginia, and Daytona Beach, Florida.

Read more at ScottsmanGuide.com

 

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