A new report from research firm RealtyTrac shows that Nevada had a 34 percent decline in housing flips compared to the first six months of 2012. Whereas from a national perspective, the volume of housing flips rose 19 percent in total over this time period.
Although flipping remains profitable in most markets, it has certainly slowed in regions where there are fewer distressed bargains for sale. In Las Vegas, there is a particularly fewer amount of homes listed for sale in part from heavy investor activity, as many cheap houses have already been purchased in bulk and have subsequently been turned into rentals throughout the valley. Overall, it is now a difficult to buy a home in Vegas, whether you want to flip it or just live in it.
Check out the article to read more on RealtyTrac's report:
http://www.vegasinc.com/news/2013/jul/19/house-flipping-slows-las-vegas-bargains-disappear/
Source: VEGASINC.com
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