SAN FRANCISCO–It may bring back memories to some of the run-up to the housing crash of a decade ago, but house-flipping is back in numerous markets across the country.
With rates still relatively low and housing inventories tight in many places, investors are again buying houses and flipping them for sale and pocketing the profits.
Using data compiled by Attom Data Solutions, Credit.com has published a list of the top 20 U.S. metro areas with the most flipped homes in Q2 of 2017.
According to Credit.com, the Top 20 markets and the average profits gained are:
1. Phoenix
County: Maricopa
Metro area: Phoenix-Mesa-Scottsdale, AZ
Number of homes flipped: 2,116
Average flipping profit: $54,787
2. Los Angeles
County: Los Angeles
Metro area: Los Angeles-Long Beach-Anaheim, CA
Number of homes flipped: 1,404
Average flipping profit: $135,000
3. Las Vegas
County: Clark
Metro area: Las Vegas-Henderson-Paradise, NV
Number of homes flipped: 1,207
Average flipping profit: $55,600
4. Chicago
County: Cook
Metro area: Chicago-Naperville-Elgin, IL-IN-WI
Number of homes flipped: 922
Average flipping profit: $95,000
5. Fort Lauderdale, Florida
County: Broward
Metro area: Miami-Fort Lauderdale-West Palm Beach, FL
Number of homes flipped: 863
Average flipping profit: $75,000
6. Miami
County: Miami-Dade
Metro area: Miami-Fort Lauderdale-West Palm Beach, FL
Number of homes flipped: 794
Average flipping profit: $80,000
7. Palm Beach, Florida
County: Palm Beach
Metro area: Miami-Fort Lauderdale-West Palm Beach, FL
Number of homes flipped: 681
Average flipping profit: $69,200
8. Tampa, Florida
County: Pinellas
Metro area: Tampa-St. Petersburg-Clearwater, FL
Number of homes flipped: 642
Average flipping profit: $69,900
9. Riverside, California
County: Riverside
Metro area: Riverside-San Bernardino-Ontario, CA
Number of homes flipped: 631
Average flipping profit: $75,500
10. San Diego
County: San Diego
Metro area: San Diego-Carlsbad, CA
Number of homes flipped: 604
Average flipping profit: $85,000
11. Clearwater, Florida
County: Hillsborough
Metro area: Tampa-St. Petersburg-Clearwater, FL
Number of homes flipped: 604
Average flipping profit: $60,000
12. Ontario, California
County: San Bernardino
Metro area: Riverside-San Bernardino-Ontario, CA
Number of homes flipped: 551
Average flipping profit: $75,500
13. Houston
County: Harris
Metro area: Houston-The Woodlands-Sugar Land, TX
Number of homes flipped: 546
Average flipping profit: $48,888
14. Orlando, Florida
County: Orange
Metro area: Orlando-Kissimmee-Sanford, FL
Number of homes flipped: 528
Average flipping profit: $64,000
15. St. Louis
County: Saint Louis
Metro area: St. Louis, MO-IL
Number of homes flipped: 526
Average flipping profit: $47,000
16. Philadelphia
County: Philadelphia
Metro area: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
Number of homes flipped: 521
Average flipping profit: $78,046
17. Dallas
County: Dallas
Metro area: Dallas-Fort Worth-Arlington, TX
Number of homes flipped: 505
Average flipping profit: $59,133
18. Memphis, Tennessee
County: Shelby
Metro area: Memphis, TN-MS-AR
Number of homes flipped: 487
Average flipping profit: $41,500
19. Arlington, Texas
County: Tarrant
Metro area: Dallas-Fort Worth-Arlington, TX
Number of homes flipped: 444
Average flipping profit: $46,161
20. Detroit
County: Wayne
Metro area: Detroit-Warren-Dearborn, MI
Number of homes flipped: 442
Average flipping profit: $37,500