Recent data released by RealtyTrac for the second quarter of 2014 indicated that Pittsburgh is the best market in the nation for home flipping, while the San Francisco-Oakland-Fremont market was the worst.
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Nationwide sales of flipped homes dropped both quarter-over-quarter and year-over year in the second quarter of 2014, according to the Q2 2014 U.S. Home Flipping Report released by RealtyTrac on August 22.
Read More »Home flippers reported more gains in 2013 than in any year on record, according to national real estate brokerage Redfin. The average home flipped last year was sold for $90,200 more than it was purchased, and in 11 of the 30 markets Redfin analyzed, flippers received gains of more than $100,000 per house.
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In a blog post, RealtyTrac VP Daren Blomquist analyzed data from the company's newly created and interactive, county-level heat map, which shows the returns on home flipping over the last 12 months in 1,050 counties nationwide. He found that although flipping was down nationally in the first quarter of 2014 compared to a year ago, flippers are making bigger profits per flip.
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