FREE NEWSLETTER: Econintersect sends a nightly newsletter highlighting news events of the day, and providing a summary of new articles posted on the website. Econintersect will not sell or pass your email address to others per our privacy policy. You can cancel this subscription at any time by selecting the unsubscribing link in the footer of each email.

posted on 05 April 2017

Texas And Florida House Flipping Activities Were Strong In 2016

from CoreLogic

-- this post authored by Bin He

Part I discussed flipping activity in 2016 - investors buying homes, repairing and selling them within a short period of time for a profit - at the national level. Here we focus on flipping activity at the local metro level for 2016. A flipped property is defined as a property that is bought and sold within twelve months.

Figure 1 lists the 20 markets, among the 100 largest Core Based Statistical Areas (CBSAs) that CoreLogic analyzed, with the highest shares of flipped properties in 2016. Since sale values are not available for public access in non-disclosure states, gross profit and percent gross profit are not available for those CBSAs in these non-disclosure states.

According to CoreLogic data and analysis, El Paso, TX has the highest share of flipped properties, followed by Fort Worth-Arlington, TX and Dallas, TX. For these 20 CBSAs, the median gross profit per flipped property ranges from a low of $29,000 in Birmingham-Hoover, AL to a high of $130,000 in Los Angeles-Long Beach-Glendale, CA. The median percentage gross profit ranges from a low of 30.7 percent in Birmingham-Hoover, AL to a high of 66.2 percent in Virginia Beach-Norfolk-Newport News, VA-NC.

Flipping activity was strongest among Texas and Florida CBSAs in 2016. Five of the top 10 markets for flipping are in Texas, and eight of the top 20 markets for flipping are in Florida. Figure 2 shows that in the five hot Texas markets flipping activity in 2016 is comparable to activity seen in 2015. Moreover, in three of those markets, El Paso, Dallas and San Antonio, flipping activity in 2016 is not too far from the post-2000 peak values. The Texas housing market did not really experience the bubble-bust like the rest of the country during 2005-2008, and its home price appreciation has been accelerating. It is worth keeping a close eye on the Texas market. Figure 3 shows in all eight hot Florida markets, six of them had increases in flipping activity in 2016 compared to 2015. However, flipping activity in these Florida markets is still well below the post-2000 peak values, which makes it difficult to label it speculative.

Figure 4 shows the 20 markets with the lowest levels of flipping activity in 2016 among the 100 largest CBSAs analyzed. Albuquerque, NM has the lowest share of flipped properties, followed by Indianapolis-Carmel-Anderson, IN and Hartford-West Hartford-East Hartford, CT. The median gross profit per flipped property ranges from a low of $27,462 in Buffalo-Cheektowaga-Niagara Falls, NY to a high of $106,575 in Boston, MA. The median percentage gross profit ranges from a low of 14.4 percent in Honolulu, HI to a high of 100 percent in Pittsburgh, PA.

©2017 CoreLogic, Inc. All rights reserved.

>>>>> Scroll down to view and make comments <<<<<<

Click here for Historical News Post Listing

Make a Comment

Econintersect wants your comments, data and opinion on the articles posted. You can also comment using Facebook directly using he comment block below.

Econintersect Contributors


Print this page or create a PDF file of this page
Print Friendly and PDF

The growing use of ad blocking software is creating a shortfall in covering our fixed expenses. Please consider a donation to Econintersect to allow continuing output of quality and balanced financial and economic news and analysis.

Take a look at what is going on inside of
Main Home
Analysis Blog
Why Long-Run Theories of Profit and Accumulation Fall Short
Brexit - Who Wins and Loses
News Blog
Worthless Mining Waste Could Suck CO Out Of The Atmosphere And Reverse Emissions
Average Gasoline Prices for Week Ending 24 April 2017 Rose Over 1 Cent
The Worst Roads In The USA
What We Read Today 24 April 2017
Best And Worst States To Retire In The United States
April 2017 Texas Manufacturing Survey Continues to Expand
March 2017 CFNAI Super Index Moving Average Declined
What Is The Informal Labor Market?
Changes In Labor Force Participation
Infographic Of The Day: 10 Habits Of Millionaires For Building Wealth
Early Headlines: Asia Stocks Mostly Up, China Down, Dollar And Oil Up, Gold Down, European Stocks Open Up, 2nd SCOTUS Seat For Trump?, SCOTUS Gets Gerrymander, UK Has Huge Gender Pay Gaps, And More
Most Read Articles Last Week Ending 22 April
GOP Healthcare Plan Would Cost The Poor And Old The Most
Investing Blog
Market And Sector Analysis 23 April 2017
Markets Rally As Expected
Opinion Blog
Reducing Inequality Could Be A Matter Of Survival
America's Gilded Age 2: On The Rocks
Precious Metals Blog
Three Gold Plays For The New Era Of Chaos
Live Markets
24Apr2017 Market Close: Wall Street Closes Higher, DOW Closes Up 216 Points, Investors Now Worry About A Looming Shutdown Of The Federal Government
Amazon Books & More

.... and keep up with economic news using our dynamic economic newspapers with the largest international coverage on the internet
Asia / Pacific
Middle East / Africa
USA Government



Analysis Blog
News Blog
Investing Blog
Opinion Blog
Precious Metals Blog
Markets Blog
Video of the Day


Asia / Pacific
Middle East / Africa
USA Government

RSS Feeds / Social Media

Combined Econintersect Feed

Free Newsletter

Marketplace - Books & More

Economic Forecast

Content Contribution



  Top Economics Site Contributor TalkMarkets Contributor Finance Blogs Free PageRank Checker Active Search Results Google+

This Web Page by Steven Hansen ---- Copyright 2010 - 2017 Econintersect LLC - all rights reserved