California Counties Among Most Home Flips

IRVINE, CA—Several California markets are among those with the most home flips in the past year, according to a report from RealtyTrac. Los Angeles, San Diego, Inland Empire and Sacramento are listed among the top 22 US markets that saw the greatest number of home flips between April 2013 and March 2014.

The practice of home flipping remains a viable way to bulk up inventory in markets where stock is low. The firm lists the top 14 counties nationwide for flipping, which includes counties that had at least 100 single-family homes flipped in the last 12 months, saw an average gross return of 30% or more on flips during that time period, had an unemployment rate below the national average of 6.7% in March and had an increase in foreclosure activity in the first quarter of 2014 compared to a year ago, since additional foreclosures provide more inventory for investors to flip. Those counties include Prince George’s County, MD; York, PA; Baltimore; Campbell, KY; New Castle, DE; Saint Marys, MD; Anne Arundel, MD; Wright, MN; Bergen, NJ; Montgomery, MD; Berks, PA; Monroe, FL; Nassau, NY; and Middlesex, NJ.