House flipping accounted for 7.2% of all home sales during the first quarter of 2019, according to ATOM Data Solutions’ 2019 Home Flipping Report.
In fact, the market share of house flipping in total home sales is the highest since the first quarter of 2010.
Kings County, California leads the list with almost 50% of homes being flipped. In this top zip code, real estate investors purchased homes for a median price of $72,500 and sold them within 12 months for a median price of $112,500. As a result, savvy homeowners are almost doubling their initial investment.
Following California is Queens County, New York.
The three remaining Top 5 home flipping areas in the first quarter were Miami-Dade County, Florida, Shelby County, Tennessee, around Memphis, and Orange County, California.
Fresno County made the bigger list of Top 10. Sacramento County did not.
Show Prep Source: https://www.attomdata.com/news/market-trends/flipping/q1-2019-home-flipping-report/
Do you have a news tip for our Show Prep on AsktheContractors.com? Send us a comment on the home page.
