The Metro With the Highest REO House Flipping Is …
October 29, 2018
When it comes to buying and selling real estate owned (REO) properties, Huntsville, Ala., leads the nation for flipping this particular property, according to data from the online real estate marketing platform Hubzu.
In an analysis of 2017 activity involving REO properties that were bought and sold within the year, Hunstville reigned with 38 percent of its REO properties flipped during the course of the year. Clarksville, Tenn., came in second at 34 percent, followed by two Florida metros—Gainsville at 30 percent and Pensacola at 28 percent—and Lima, Ohio (26 percent). Relatively few big cities made the list—Cincinnati (ranked sixth at 22.76 percent), Las Vegas (ranked seventh at 22.75 percent) and San Diego (ranked 18th at 17.45 percent) were exceptions—and outside of York, Pa. (ranked 20th at 16 percent), all of the metro areas were either in the South, West and Midwest regions.
“With tight inventory and appreciating home prices affecting real estate market conditions across the country, many people are pursuing fix and flip markets as strategic income opportunities,” said Patrick G. McClain, Senior Vice President, Hubzu Auction Services. “There is noticeable activity in the Southern and Midwestern markets, which may be less competitive. As more buyers seek smart investment opportunities, we can anticipate this trend of fix and flipping homes to continue.”
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