Report: House flipping rates near historic highs across U.S.

Posted at 10:03 AM, Apr 21, 2019
and last updated 2019-04-21 13:03:57-04

(KGTV) -- Home flipping in the U.S. is seeing an increase in activity and returns, according to a new report by CoreLogic.

According to the report, the flipping rate in the fourth quarter of 2018 was the highest rate for a fourth quarter since CoreLogic started tracking home flipping in 2002.

Although the report doesn’t mention flipping in San Diego specifically, CoreLogic says flippers across the country are making a healthy return.

The report points out that flippers are getting better at buying properties at discounts and selling for a premium price by adding value to the homes.

According to CoreLogic, returns are highest in areas with older housing. The report found that returns are highest in the Rustbelt and lowest in the Sunbelt.

At the high end, returns were highest in Detroit, Philadelphia and Pittsburgh. Returns were lowest in Raleigh, Colorado Springs and Charlotte.

On the flip side, the report points out that flipping rates tends to be highest in Sunbelt metros and lowest in Rustbelt metros.

The report concludes with a forecast, predicting that most markets in California will see overvalued housing by 2024.

Check out the chart below: