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Report finds mixed results for home flipping in metro Phoenix

Posted by   /  October 2, 2019  /  No Comments

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KTAR

For metro Phoenix real estate investors, home flipping has been more about speed than profit.

The Valley has one of the nation’s fastest average turnaround times for flipped homes but one of the lowest returns on investment, according to the latest data.

Phoenix-area homes were flipped in an average of 151 days, the fifth fastest in the U.S., according to an ATTOM Data Solutions report released earlier this month on homes resold within a year of purchase during the second quarter of 2019.

However, the return on investment on Valley flips was just 15.3%, the fourth-lowest figure in the country among the 149 metro areas in the report.

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