Miami Leads Nation in Home Flipping
According to RealtyTrac's Q3 2014 U.S. Home Flipping Report, 26,947 single family homes were flipped nationwide in the third quarter of 2014, representing 4.0 percent of all U.S. single family home sales. This was down from 4.6 percent in the second quarter of 2014 and down from 5.6 percent in the third quarter of 2013 to the lowest level since the second quarter of 2009. Flipping is defined as when a home is purchased and subsequently sold again within 12 months
Investors averaged a gross profit of $75,990 per flip on homes flipped in the third quarter of 2014, a 36 percent gross return on the initial investment -- not including rehab costs and other expenses. The average gross return was up from 35 percent in the second quarter but down from 37 percent a year ago.
Miami Leads Nation in Home Flipping - WORLD PROPERTY JOURNAL Global News Center
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