Property
House Flipping Is Making a Comeback in Las Vegas
More than 10 percent of recent sales were flips, the highest rate among 85 large metros.
This article is for subscribers only.
At the onset of the millennium, house flippers—people who purchased imperfect homes, renovated them, and resold them at a profit mere months later—ran rampant in U.S. housing markets.
When the market went bust, the flippers mostly went away, replaced by investors who bought distressed homes and rented them out. The practice of flipping homes has been slow to return—5 percent of all home sales in the past year were flips1455740360491, according to a report published today by Trulia, down from 8.6 percent in 2006. There's one major metropolitan area, however, where flipping is making a steady comeback: Las Vegas.