The volume of house flipping increased 19 percent from the first half of this year to the first half of last year, according to RealtyTrac.
At the same time, profits from flipping increased 246 percent.
Over the first half of this year, investors earned an average gross profit of $18,391 per home flipped, up from $5,321 in the first half of last year and a vast improvement from the first half of 2011 when flippers lost an average of $13,206 on flips.
The $18,391 represents a 9 percent return on investment.
Investors working in markets where foreclosures have ticked up recently are earning the greatest profits, according to RealtyTrac, because they are able to purchase at a discount.
As such, “home flipping is tapering off in markets where fewer of those distressed bargains are available,” said Daren Blomquist, VP at RealtyTrac…”
Read the rest of DSNews.com’s article here: Flipping on the Rise in Most Markets as Profits Skyrocket
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