Daytona Beach, FL – According to a report by Trulia, home flipping across the nation is on the rise and Volusia County boasts the second highest flip rate in metro areas.
Home flipping has reached a 10-year high across the country with 6.1% of all homes sold in 2016 being flipped. In Volusia County last year, 9% of all home sales were flips – up from 7.1% in 2015. The increase in flipping is due in part to the rapidly increasing price of homes, which across the nation, are the highest they’ve been since 2006.
“Successful flipping requires both improvements to the home and growing home values,” said Ron Wysocarski, CEO of The Wyse Home Team at Keller Williams Realty. “The ingredients for success were all there last year as prices continued to rise steadily and investors shifted their focus from distressed foreclosures to more traditional listings available in the market.” Good lending conditions and high buyer demand for turnkey homes in a market with low inventory levels also likely played a role in keeping flip rates high across the Daytona Beach area, Wysocarski said.
To find out more about flipping homes go to Trulia.com.
Copyright Southern Stone Communications 2017.