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Tuesday, February 23, 2016

Las Vegas House Flipping Making a Comeback

According to a recent Bloomberg Business article, house flipping in the Las Vegas area has started to make a comeback. "In the third quarter of 2015, flips accounted for 10.4 percent of homes sales in the Las Vegas metropolitan area, the highest rate among the 85 metros included in the report." When the housing bubble burst, the Las Vegas flips dropped drastically over a couple year period, but have started to make a steady comeback the last couple years. Click here to view a chart from the last 15 years"Las Vegas’s rising flip rate isn’t necessarily a bad sign, said Ralph McLaughlin, chief economist at Trulia. If the resales are driven by investors who see an opportunity to buy homes and make repairs neglected during the recession, the activity could be a good thing."

Shawn & Kyle Cunningham
Cunningham Group at RE/MAX Advantage | 702-960-4819 Shawn | 702-960-4819 Kyle
Source: Bloomberg

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