Home Flippers See Significant Bump in 3rd Quarter

home flippersThe declining trend of house flipping is making a comeback in many markets nationwide according to Realty Trac’s third quarter 2015 U.S. Home Flipping Report. The report reveals that real estate investors flipped 18 percent more homes last quarter than they did during the same quarter in 2014. Home flippers in Pittsburgh led the nation with the greatest ROI at 78.4 percent. Five Cook County zip codes (60652, 60402, 60629, 60638, and 60634) also made the top 20 list for average gross flipping ROI. In many areas in Chicagoland and Pittsburgh, home flippers are helping to transform areas burdened with distressed properties.  According to the Pittsburgh Post-Gazette, home flippers “have been playing an important role in repopulating and revitalizing Pittsburgh neighborhoods where crumbling mansions, vacant row houses and run-down single family homes have blighted the landscape and pushed down property values.”

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Image Source: Sitka Projects