California’s Top House Flipping Havens
House flipping hit a 10-year high last year, with just over 207,000 U.S. homes being bought and renovated for a quick, profitable resale. As a new study underscores, California remains a hotbed for this activity.
From 2014 to 2017, nearly 152,000 homes were flipped in California, according to financing company LendingHome Funding Corporation. Each year, the number of flipped homes increased. The site also mapped the trend by county, showing which locales saw the greatest number of fixer-uppers turned profit-makers over that four year period.
Here are California’s top house flipping counties per LendingHome:
1. Los Angeles
2. San Diego
4. San Bernardino
9. Contra Costa
House flipping looks pretty steady, thanks to relatively easy financing and a number of shows that have popularized the trend. But the returns flippers are receiving are lower than they used to be. According to Attom Data Solutions, the average return on investment last year was 49.8 percent, a drop from 51.9 percent in 2016.