Home Flipping on the Rise
Home Flipping in Scottsdale and Phoenix is on the Rise
Phoenix ranks #18 on list of cities with flipped houses in 2016
Home flipping nationwide increased for the first time in three years, according to a recent Trulia report. The share of home sales across the nation in 2016 was the most since 2006 – 6.1% compared to 7.3%. La Vegas was the top city for flips in 2016, followed by Deltona-Daytona Beach-Ormond Beach, Florida. Phoenix came in at the number 18 spot.
In 2016, flipped homes in Phoenix comprised 7.3% of the homes sold. Prior to 2016, the greatest number of flips in Phoenix Metro was 2005 when 11.9% of the homes were flipped. Comparatively, 10.5% of the homes sold in Las Vegas in 2016 were flipped and the greatest number of flips occurred in 2004 with 12.4% of flips.
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