14 Cities Where House Flippers Are Making A Bunch Of Money

As home prices ripped higher in 2013, we saw a rise in home flipping — when a home is purchase and sold within six months.

Home flipping was up 16% on the year in 2013, according to RealtyTrac’s latest report.

The average gross profit for a flip — the difference between the flipped price and the price the purchase price — was $US58,081 in 2013.

In the fourth quarter the gross profit on flips was $US62,761.

We rounded up the 14 cities where home flippers made the highest gross profit (in per cent) in the fourth quarter.

Note: RealtyTrac looked at metro areas with more than 10 flips in the fourth quarter.

Green Bay, Wisconsin

Gross profit percentage:139%

Average gross profit:$97,437

Q4 flips:315

YoY change: 27.5%

Average purchase price: $US70,113

Source: RealtyTrac

Lincoln, Nebraska

Gross profit percentage:109.2%

Average gross profit:$$88,388

Q4 flips:26

YoY change: 2.8%

Average purchase price: $US80,929

Source: RealtyTrac

Hickory-Lenoir-Morganton, North Carolina

Gross profit percentage: 103.7%

Average gross profit:$46,845

Q4 flips:16

YoY change: 1.8%

Average purchase price: $US45,168

Source: RealtyTrac

Kingsport-Bristol-Bristol, Tennessee-Virginia

Gross profit percentage:97.3%

Average gross profit:$61,865

Q4 flips:16

YoY change: 2.2%

Average purchase price: $US63,556

Source: RealtyTrac

Pittsburgh, Pennsylvania

Gross profit percentage:84.3%

Average gross profit:$57,674

Q4 flips:96

YoY change: 1.6%

Average purchase price: $US68,390

Source: RealtyTrac

Poughkeepsie-Newburgh-Middletown, New York

Gross profit percentage:76.3%

Average gross profit:$103,100

Q4 flips:109

YoY change: 8.6%

Average purchase price: $US135,071

Source: RealtyTrac

Fayetteville, North Carolina

Gross profit percentage:70.1%

Average gross profit:$38,167

Q4 flips:16

YoY change: 2.3%

Average purchase price: $US54,417

Source: RealtyTrac

Grand Rapids-Wyoming, Michigan

Gross profit percentage: 67.8%

Average gross profit:$44,017

Q4 flips:46

YoY change: 1.6%

Average purchase price: $US64,959

Source: RealtyTrac

Lancaster, Pennsylvania

Gross profit percentage:64.8%

Average gross profit:$60,518

Q4 flips:37

YoY change: 2.6%

Average purchase price: $US93,342

Source: RealtyTrac

York-Hanover, Pennsylvania

Gross profit percentage:64.7%

Average gross profit:$60,203

Q4 flips:48

YoY change: 4.3%

Average purchase price: $US92,984

Source: RealtyTrac

Single Family Flips (first half 2013): 551

YoY change: 97%

Average purchase price: $US229,813

Average gross profit: $US29,850

Gross profit percentage: 13%

Source: RealtyTrac

Virginia Beach-Norfolk-Newport News, Virginia-North Carolina

Gross profit percentage:64.6%

Average gross profit:$91,262

Q4 flips:124

YoY change: 3.9%

Average purchase price: $US141,241

Source: RealtyTrac

Lakeland, Florida

Gross profit percentage: 64.1%

Average gross profit:$36,172

Q4 flips: 90

YoY change: 4.6%

Average purchase price: $US56,443

Source: RealtyTrac

Now look at cities where home prices are expected to rise the most...

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