17 US cities where people are flipping houses like crazy
For the first time in 4 years, house flipping is back on the rise.
According to data from real estate data firm RealtyTrac, 5.5% of all home sales were from house flips in 2015 up from 5.3% in 2014.
"As confidence in the housing recovery spreads, more real estate investors and would-be real estate investors are hopping on the home flipping bandwagon," said Daren Blomquist, senior vice president at RealtyTrac in a release.
"Not only is the share of home flips on the rise again, but we also see the flipping trend trickling down to smaller investors who are completing fewer flips per year."
75% of housing markets in the US saw a rise in the number of house flips in 2015. Using RealtyTrac's data, we've compiled a list of 17 housing markets that saw at least a 25% increase in flips over last year, ranked from slowest- to fastest-growing.
17. North Port-Sarasota-Bradenton, FL
Total housing units: 401,839
2015 home flips: 1,867
Percent of total 2015 sales that were flips: 8.3%
Y-O-Y percent change in flips: 26%
16. Huntsville, AL
Total housing units: 183,643
2015 home flips: 453
Percent of total 2015 sales that were flips: 8.4%
Y-O-Y percent change in flips: 27%
15. Palm Bay-Melbourne-Titusville, FL
Total housing units: 270,081
2015 home flips: 1,196
Percent of total 2015 sales that were flips: 8.2%
Y-O-Y percent change in flips: 28%
14. Crestview-Fort Walton Beach-Destin, FL
Total housing units: 138,447
2015 home flips: 341
Percent of total 2015 sales that were flips: 5.1%
Y-O-Y percent change in flips: 28%
13. Salem, OR
Total housing units: 151,528
2015 home flips: 310
Percent of total 2015 sales that were flips: 5.5%
Y-O-Y percent change in flips: 28%
12. Flint, MI
Total housing units: 191,568
2015 home flips: 317
Percent of total 2015 sales that were flips: 5.0%
Y-O-Y percent change in flips: 29%
11. Pensacola-Ferry Pass-Brent, FL
Total housing units: 202,427
2015 home flips: 488
Percent of total 2015 sales that were flips: 5.9%
Y-O-Y percent change in flips: 30%
10. Little Rock-North Little Rock-Conway, AR
Total housing units: 409,935
2015 home flips: 465
Percent of total 2015 sales that were flips: 4.9%
Y-O-Y percent change in flips: 30%
9. Deltona-Daytona Beach-Ormond Beach, FL
Total housing units: 302,821
2015 home flips: 1,456
Percent of total 2015 sales that were flips: 9.1%
Y-O-Y percent change in flips: 32%
8. Ocala, FL
Total housing units: 163,359
2015 home flips: 520
Percent of total 2015 sales that were flips: 8.1%
Y-O-Y percent change in flips: 32%
7. Ogden-Clearfield, UT
Total housing units: 205,852
2015 home flips: 368
Percent of total 2015 sales that were flips: 4.3%
Y-O-Y percent change in flips: 32%
6. Buffalo-Cheektowaga-Niagara Falls, NY
Total housing units: 518,767
2015 home flips: 478
Percent of total 2015 sales that were flips: 4.3%
Y-O-Y percent change in flips: 34%
5. Akron, OH
Total housing units: 312,397
2015 home flips: 487
Percent of total 2015 sales that were flips: 5.2%
Y-O-Y percent change in flips: 37%
4. Homosassa Springs, FL
Total housing units: 77,710
2015 home flips: 270
Percent of total 2015 sales that were flips: 7.1%
Y-O-Y percent change in flips: 40%
3. Jacksonville, FL
Total housing units: 601,347
2015 home flips: 2,079
Percent of total 2015 sales that were flips: 7.9%
Y-O-Y percent change in flips: 41%
2. New Haven-Milford, CT
Total housing units: 361,726
2015 home flips: 258
Percent of total 2015 sales that were flips: 3.0%
Y-O-Y percent change in flips: 45%
1. Lakeland-Winter Haven, FL
Total housing units: 280,607
2015 home flips: 923
Percent of total 2015 sales that were flips: 8.9%
Y-O-Y percent change in flips: 50%
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