ORLANDO, Fla. (AP) — Two Florida metro areas were among the leaders last year in house flipping.
The research firm RealtyTrac said Thursday that Tampa and the Daytona Beach metros had among the nation’s highest rates of people purchasing homes and then selling them within a year. That practice is known as “flipping.”
RealtyTrac says more than 9 percent of the homes sold in the Tampa and Daytona Beach metro areas were flips. Only Memphis, Tennessee; Fresno, California; and Las Vegas had higher rates.
Nationwide, about 5.5 percent of all home sales were flips. Among states, Florida had the second-highest rate, only behind Nevada.
Almost 9 percent of home sales in Nevada were flips, while 8 percent in Florida were flips.