House Flipping Can Still Generate Lots of Cash - KALB-TV News Channel 5 & CBS 2

House Flipping Can Still Generate Lots of Cash

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In the real estate market fewer buyers are "flipping" homes, but those who are, are making more money doing it. That's according to "realty trac."
"Flipping" homes is when you buy a home and sell it less than six months later. In the first quarter of this year, three-point-seven percent of all home sales were flips, that's down from six-point-five percent from the same time last year.The average profit on those flips was 30-percent which is two-percent higher.
The city with the most flips is New York, but that doesn't always mean you'll make lots of cash. The city with the biggest profit is Pittsburgh, Pennsylvania where the average return on investment was 89-percent.
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