Memphis, Tenn., boasted the highest share of house flipping in the first quarter of this year, followed by Fresno, Calif., and Lakeland-Winter Haven, Fla., according to CoreLogic data’s of the 86 largest metro areas.
However, Florida has the highest activity of flipping in its metro areas. Seven of the top 10 markets for house flipping and eight of the top 20 markets are all in Florida.
The median gross profit per flipper property ranges from $23,430 in Birmingham-Hoover, Ala., to $124,000 in San Jose-Sunnyvale-Santa Clara, Calif. The median percentage gross profit ranges from 20.2 percent in San Jose-Sunnyvale-Santa Clara to 68.4 percent in Chicago-Naperville-Arlington Heights, Ill., the data shows.
Source: “Is Flipping Coming Back? Part II,” CoreLogic Insights Blog (May 2, 2016)