Even as local real-estate prices soar, home flipping is still a big business in South Florida.
While it’s getting harder to find a good deal, flippers say they’re riding the wave of rising home values to steady profits— and they don’t expect a crash that will leave them underwater.
Nearly 1,400 single-family homes were flipped in Miami-Dade, Broward and Palm Beach counties during the second quarter of 2015, according to a report from RealtyTrac released Thursday.
MAJOR METRO AREAS WITH THE MOST HOME FLIPPING
Miami leads the nation among major metro areas where flips account for the greatest percentage of single-family sales.
Miami: 9.6 percent
Memphis: 9.0 percent
Tampa: 8.9 percent
Las Vegas: 7.7 percent
Detroit: 7.1 percent
Baltimore: 7.1 percent
Los Angeles: 7.0 percent
Orlando: 6.8 percent
Phoenix: 6.7 percentJacksonville: 6.7 percent