Based on a recent study of house flipping activity by ATTOM Data Solutions, Credit.com’s Kyle Lemmon has compiled a list of the 20 U.S. Metro areas where the most homes were flipped (defined here as purchased, renovated, and then re-sold) in the second quarter of 2017.
The Phoenix-Mesa-Scottsdale, Ariz. metro came in first on the list, with 2,116 homes flipped in the second quarter and an average flipping profit of $57,787. The Los Angeles-Long Beach-Anaheim, Calif. metro followed with 1,404 homes flipped and an average flipping profit of $135,000. Las Vegas-Henderson-Paradise, Nev. came in third with 1,207 homes flipped and an average flipping profit of $55,600.
According to ATTOM’s report, 53,638 homes and condos were flipped across the nation in the second quarter of 2017. These resales made up 5.6% of all home sales in that timeframe, down from 6.9% in the previous quarter but unchanged from one year earlier.
