Thursday, October 18, 2012

Flipping Houses Is Once Again a Booming Business

Buying up homes, rehabbing and reselling them for a profit was big during the housing boom. But when the housing market started to slump, house flippers nearly vanished.
As the housing market recovers, house flipping may be showing signs of re-emerging.  In the first half of 2012, house flips increased 25 percent compared to a year earlier. The average profit on each property is $29,342, according to the real estate research firm.

Areas hit hardest in the housing crash are seeing some of the largest increases in flipping.  Phoenix has had the highest number of reported flips, followed by Las Vegas, Los Angeles, Miami and Atlanta.


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