Flipping frequent in Florida, less prevalent on East Coast

Seven out of 10 highest flipping activity markets in the Sunshine State
  • Out of the top 10 markets with highest share of flips, Florida holds seven spots.
  • It takes 159 days to flip a home in the New York metro.
  • In the Los Angeles metro, where flips encompass 6.39 percent of the market, it takes five-and-a-half months (168 days) to flip a home.
  • Chicago’s metro flipping comprises 5.57 percent of sales, but it takes 158 days to flip a home.
  • In San Jose-Sunnyvale-Santa Clara, flipping takes up 5.45 percent of the market, and averages 114 days to sell.

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According to a recent report from CoreLogic, flipping activity is more prevalent in Florida cities than any other state in the country. Out of the top 10 markets with highest share of flips, Florida holds seven spots. Lakeland-Winter Haven is No. 3 in highest share of flipped properties, where flips make up 7.54 percent of the market. The other top Florida markets include: Miami-Miami Beach-Kendall at No. 5 (6.85 percent) Tampa-St Petersburg-Clearwater at No. 6 (6.80 percent) Orlando-Kissimmee-Sanford at No. 7 (6.80 percent) Deltona-Dayton Beach-Ormond Beach at No. 8 (6.74 percent) Fort Lauderdale-Pompano Beach-Deerfield Beach at No. 9 (6.60 percent) Palm Bay-Melbourne-Titusville at No. 10 (6.60 percent) Aside from Lakeland-Winter Haven, the top seven Sunshine State markets increased in flipping activity since last year. However, Florida’s top flipping markets remain below their peak prior to the 2008 crash. CoreLogic says flipping was at an all...